Despite high demand for a wide range of stocks, trade was dominated by stocks of SMEs, while big companies languished under the negative weight of global commodity markets.
The average trade value of small shares hiked over 40% for the day, compared with the average figure reported for the past two months, according to Donyaye Bourse website.
The price of 87% of equities soared and most stock symbols where traded at the maximum allowed daily prices, according to Financial Tribune.
Spurred by investor optimism about the financial performance of listed companies for the calendar month to August 22, the market turned bullish since last Sunday.
The upward trend gained momentum on Saturday as more companies published their financial reports for on codal - an information website for instant official publication of corporate data and news.
However, investors’ disappointment about trends in global markets spurred by US-China trade war remarkably scaled down demand for most commodity stocks.
While the market was mostly green on Saturday, the weak performance of two huge commodity companies, namely Mobarakeh Steel Company and National Iranian Copper Industry Company, left the most negative impact on the TSE index.
The long-standing trade tensions intensified on Friday after China’s Commerce Ministry said it would impose tariffs on about $75 billion in imports from the United States including some agricultural products, crude oil and small aircraft.
Market Performance
The TSE's main index TEDPIX gained 3,859 points or 1.45% on Saturday to end trading at 269,986.2.
About 5.17 billion shares valued at 14.10 trillion rials ($121.58 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Petrochemical Industrial Investment Company was the biggest winner as its shares went up 9.97% to 6,089 rials per share.
Azerbaijan Investment Development Company Stock incurred the biggest loss among all TSE-listed companies and went down 5% to 13,597 rials per share.
Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by National Iranian Copper Industry Company, Khuzestan Steel Company, Pars Petrochemical Company and Iranian Investment Petrochemical Group Company.
Isfahan Oil Refining Company gave the biggest boost to the benchmark index, followed by Telecommunication Company of Iran, Tehran Oil Refining Company and Mobile Telecommunication Company of Iran.
The Price Index gained 1,042.53 points, or 1.45% to close at 72,937.1.
The First Market Index increased by 2,638.11 points, or 1.36% to post 196,005.1. Second Market Index increased by 8,590.80 points, or 1.59% to reach 549,995.8.
The Industry Index increased by 3,179.71 points or 1.33% to register 241,740.7. Free Float Index was up 4,116.30 points to hit 307,880.16.
TSE 30 increased by 113.96 points to settle at 11,551.3 and the TSE 50 ended 118.78 points higher to finish at 10,638.9.
Iran Fara Bourse main index IFX gained 10.14 points or 0.28% to close Saturday trade at 3,589.46.
About 1.63 billion securities valued at 9.22 trillion rials ($79.5 million) were traded at the over-the-counter exchange for the day.