Tehran Stocks Bounce Back

EghtesadOnline: The benchmark of Tehran’s share market eked out the biggest daily gain in seven months at the beginning of trading week on Saturday amid frenzy buying in almost all stock categories.

News ID: ۷۸۷۱۶۳

17 October 2021

The main index of Tehran Stock Exchange, TEDPIX, gained 40,079 points and climbed 2.87% to regain the 1.4 million mark, closing the session at 1,437,465.

The upbeat mode also dominated small caps pushing up the TSE’s equal-weighted index 2.4% -- the highest daily gain in 33 sessions.

Uncertainty over a possible change in management in the capital market authority had overshadowed trade for weeks.

Observers say investors welcomed the appointment of the new chief at Securities and Exchange Organization as it helped end  the uncertainty.  The High Council of Securities and Exchange on Wednesday appointed Majid Eshqi as the new SEO boss.

The market saw inflow of capital on Saturday after eight consecutive sessions of outflow. Net capital inflow by retail investors amounted to 5.48 trillion rials ($20.2 million).

About 5.9 billion shares valued at 52.47 trillion rials ($194.34 m) changed hands at TSE for the day. Trading at TSE and junior Iran Fara Bourse starts on Saturday and ends Wednesday.

Behsaz Kashane Tehran Construction Company was the biggest winner as its shares went up 5.44% to 1,862 rials per share.

Alborz Cable Company incurred the biggest loss among all TSE-listed companies and went down 4.73% to 28,410 rials per share.

Parsian Insurance Company contributed the most to the benchmark's fall, followed by Iran Kish Credit Card Company, Damavand Mining Company and Neyriz White Cement Company.

Mobarakeh Steel Company gave the biggest boost to the benchmark index followed by National Iranian Copper Industries Company, Social Security Investment Company and Chadormalu Mining And Industrial Company.

IFX Adds 2.4%

Iran Fara Bourse main index, IFX, gained 489.15 points or 2.44% to close Saturday trade at 20,556.7. About 3.57 billion securities valued at 35.45 trillion rials ($131.3m) were traded at the junior exchange for the day.

Day Bank had the highest number of traded shares as 669.37 million of its shares worth 671.29 billion rials ($2.48m) were traded.

Kimyagaran Emrooz Chemical Industries Company was the top  IFB gainer as its shares rose 9.89% rise to reach 37,510 rials per share.

Chaharmahal Food Products and Sugar Company, Ghasem Iran Company, Rail Pardaz Noafarin Company and Saina Hygienic Industries Company had the most negative impact on IFX.

Arya Sasol Polymer Company gave the biggest boost to IFX, followed by Zagros Petrochemical Company, Pasargad Insurance Company and Hormozgan Steel Company.