The benchmark’s strong growth came after Saturday’s leap of 2.83% after it was reported that the government was embarking on “pumping FX to Secondary Market” and that the Money and Credit Council has decided to limit the 42,000-rial USD to imports of essential goods and drugs, and channel all FX earnings from non-oil exports to the secondary market.
Though no official comment has been made so far to confirm the reports, by the market’s open on Saturday, petrochemical, steel, iron, copper and aluminum stocks as well as those of whatever investment company that has shares in them were selling like hot cakes.
About 1.71 billion shares valued at $147.21 million changed hands at TSE for the day, according to Financial Tribune.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends on Wednesday.
Bandar Abbas Oil Refining Company was the biggest winner, as its shares went up 14.78% to 7,655 rials per share.
Exir Pharmaceutical Company incurred the biggest loss among all TSE-listed companies and went down 4.93% to 3,893 rials per share.
Bandar Abbas Oil Refining Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company and Iran National Copper Industries Company.
MAPNA Group was the biggest laggard behind the benchmark’s fall, followed by Isfahan Oil Refining Company and Persian Gulf Petrochemical Industries Company.
The Price Index gained 578.92 points to close at 33,384.1.
The First Market Index was up 1,902.93 points to post 83,098.7.
The Second Market Index added 1,796.93 points to reach 230,459.9.
The Industry Index gathered 1,956.28 points to register 103,336.3.
The Free Float Index was up 2,174.11 points to hit 123,071.92.
The TSE 30 scored 146.89 point to settle at 5,540.8 and the TSE 50 ended 98.69 points higher to finish at 4,869.5.
IFX Up 1.5%
Iran Fara Bourse’s main index IFX added 19.14 points or 1.5% to close Sunday trade at 1,294.24.
The benchmark surged 42.6 points or 3.46% to close at 1,275.1 on Saturday, driven by the same trigger as in the TSE.
About 556.94 million securities valued at $76.84 million were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares and trade value, as 263.82 million of its shares worth $8.12 were traded.
Binalvand Company, Pegah Golpayegan Dairy Company and Pasargad Oil Company registered the highest value increase.
MobinOne Kish Company, Ballast Company and Saman Insurance suffered the biggest decline.
Zagros Petrochemical Company, Esfahan Steel Company and Marun Petrochemical Company had the most positive impact on IFX.