Tehran Stocks Make a Comeback

EghtesadOnline: Bucking a four-day declining trend, Tehran's share market made a promising comeback on Sunday, as investor sentiment was buoyed by the regulator's new measures to boost the struggling market.

News ID: ۷۸۵۹۵۰

08 February 2021

The main gauge of Tehran Stock Exchange, TEDPIX, gained 35,187 points to climb 3.1%, closing the session at 1,170,532.

Price spike in most of large caps pushed up the market cap-weighted TEDPIX as also shown by a whopping 4.4% growth in TSE-30 Index, which tracks the performance of top 30 TSE-listed companies in terms of market cap.

The equal-weighted index gained by a meager 1.2%, as a number of small caps were still under sell-side pressure.

Share prices in 70% of tickers increased on Sunday, comprising 336 tickers in both TSE and the junior exchange Iran Fara Bourse, according to Eghtesad News website.

Recent measures by the Securities and Exchange Organization, the stock market regulator, which aimed to boost the demand side of the market, are seen as the main driver of the market trend.

About 6.2 billion shares valued at 69.07 trillion rials ($287.8 million) changed hands at TSE for the day.

Shahed Investment Company was the biggest winner, as its shares went up 8.48% to 21,110 rials per share.

Piranshahr Food Products and Sugar Company incurred the biggest loss among all TSE-listed companies and went down 4.99% to 102,490 rials per share.

Omid Investment Management Group Company contributed the most to the benchmark's fall, followed by Sepid Farab Kavir Steel Manufacturing Company, Sadr Tamin Investment Company and Beh Pardakht Mellat.

Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, National Iranian Copper Industries Company and Social Security Investment Company.

IFB Up 1.63%

Iran Fara Bourse main index, IFX, gained 278.56 points, or 1.63%, to close Sunday trade at 17,413.18.

About 2.66 billion securities valued at 57.63 trillion rials ($240.14 million) were traded at the junior exchange for the day.

Pasargad Insurance Company, Iran Cultural Heritage and Tourism Investment Group Company, Iranian Reinsurance Company and Tukarail Company had the most negative impact on IFX.

Arya Sasol Polymer Company gave the biggest boost to IFB, followed by Zagros Petrochemical Company, Saba Tamin Investment Company and Gohar Zamin Iron Ore Company.