Most symbol tickers at TSE ended green for the day after TEDPIX gained another 4,500 points, or 1.5%, to stand at 304,460 points.
About 80% of the companies saw the price of their shares soar on Saturday with banks and auto stocks absorbing more than a quarter of the investor liquidities, according to the Donyaye Bourse website.
The new market rally is rooted more in traders’ optimism toward future course of events and less by fundamental factors, Financial Tribune reported.
Investors usually look very closely at positive signals, if any, from political developments and bullish trends in international markets.
They were boosted mainly by news about the ultra-hawkish John Bolton’s exit as top national security advisor in the US administration. The news signaled some shift in US foreign policy and a possible easing of the 4o-yerar-old tensions between Washington and Tehran.
Donald Trump on Tuesday sacked Bolton, his third national security adviser, amid major disputes over how to handle major foreign policy challenges, namely Iran, North Korea and Afghanistan.
Apart from external factors, stocks were pushed up in part by asset revaluation and recapitalization of listed companies.
Market Performance
The TSE's main index TEDPIX gained 4,529.42 points or 1.51% on Saturday to end trading at 304,460.1.
About 7.51 billion shares valued at 21.94 trillion rials ($192.5 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Motorsazan Company (manufacturer of diesel engines) was the biggest winner as its shares went up 27.43% to 5,510 rials per share.
Alumrod Company (aluminum rod manufacturer) incurred the biggest loss among all TSE-listed companies and went down 5% to 26,451 rials per share.
Tehran Oil Refining Company contributed the most to the benchmark's fall, followed by Esfahan Oil Refining Company, Bandar Abbas Oil Refining Company, and Tabriz Oil Refining Company.
Kharg Petrochemical Complex gave the biggest boost to the benchmark index, followed by National Iranian Copper Industry Company, and Mobarakeh Steel Company.
The Price Index gained 1,217.40 points, or 1.51% to close at 81,830.3.
The First Market Index increased by 3,940.95 points, or 1.80% to post 222,290.0. Second Market Index increased by 6,300.57 points, or 1.04% to reach 614,582.6.
The Industry Index increased by 3,916.78 points or 1.45% to register 273,732.8 while Free Float Index was up 5,981.17 points to hit 348,192.52.
TSE 30 increased by 228.63 points to settle at 13,063.4 and the TSE 50 ended 160.40 points higher to finish at 11,951.5.
IFX Up 0.87%
Iran Fara Bourse main index IFX gained 33.79 points or 0.87% to close Saturday trade at 3,918.68.
About 1.08 billion securities valued at 9.27 trillion rials ($81.33 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 339.97 million of its shares worth 625.34 billion rials ($5.48 million) were traded.
Shiraz Oil Refining Company, Ghasem Iran Company (active in distribution industry), and Zagros Petrochemical Company had the most negative impact on IFX.
Esfahan Steel Company gave the biggest boost to IFX, followed by Arfa Iron and Steel Company, and Damavand Power Generation Company.