Stocks Buck 4-Day Losing Trend

EghtesadOnline: Tehran stocks closed higher on Sunday bucking a declining trend that lasted for four consecutive sessions as spike in currency prices stimulated demand for commodity stocks.

News ID: ۷۸۷۳۸۶

06 December 2021

The benchmark of Tehran Stock Exchange, TEDPIX, gained 8,486.44 points or 0.64% to end trade at 1,343,252.

TSE-30 index gained 0.9% and the TSE equal weighted index barely rose 0.1%, indicating that large caps were the main gainers.

The former index tracks the performance of top 30 companies in terms of market cap and latter gives the same weight to shares of listed companies all irrespective of their size.

Demand for shares of commodity and export-oriented companies rose fueled by more than 2% increase in forex   rates on Saturday.

About 4.5 billion shares worth 31.35 trillion rials ($111.9 million) changed hands at TSE on Sunday.

Sepahan Industrial Group Company was the biggest winner as its shares went up 4.89% to 16,510 rials per share.

Butane Industrial Group Company incurred the biggest loss among all TSE-listed companies and went down 4.97% to 42,430 rials per share.

Golgohar Mining and Industrial Company contributed the most to the benchmark's fall, followed by Tamin Pharmaceutical Investment Company, Tejarat Bank and Asan Pardakht Persian Company.

Mobarakeh Steel Company gave the biggest boost to the benchmark index followed by Bandar Abbas Oil Refining Company, Ghadir Investment Company and Tamin Petroleum and Petrochemical Investment Company.

IFB Adds 0.4%

Iran Fara Bourse main index IFX gained 74.67 points or 0.39% to close Sunday trade at 19,209.7. About 1.35 billion securities valued at 21.05 trillion rials ($75.2m) were traded at the junior exchange for the day.

Omid Taban Hour Energy Management Company, Iran Cultural Heritage and Tourism Investment Group Company, Marun Petrochemical Company and Yazd Rubber Industries Complex had the most negative impact on IFX.

Arya Sasol Polymer Company gave the biggest boost to IFX, followed by Shahid Tondgooyan Petrochemical Company, Minoo Industrial Group Company and Lavan Oil Refining Company.