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Tehran Stocks Get Breathing Space

Dec 6, 2020, 6:51 PM
News ID: 34209
Tehran Stocks Get Breathing Space

EghtesadOnline: After lukewarm performance in the past two sessions, small and large cap stocks gained on Saturday amid noticeable support from institutional traders.

The market-cap weighted benchmark of Tehran TEDPIX gained 19,730.26 points, or 1.36%, to end trading at 1,490,710.73.

TEDPIX began the session in negative territory amid sell-side pressure in major large cap shares before creeping into the green zone later buoyed by support of institutional traders. 

Rising demand for stocks of small listed companies pushed up the equal-weighted index of TSE by 2.02%, indicating that small caps had an upper hand. The index gives the same weight to all shares irrespective of their market capitalization. 

Main losers were refinery and telecommunication companies while shares in agriculture, metal, mineral and sugar companies fared better. 

On Saturday, 379 ticker symbols saw growth, which represented about 80% of total stocks listed at the TSE and the junior equity exchange Iran Fara Bourse, according to eghtesadnews. 

However, the total trade value recorded 39.4% decline to reach 189.6 trillion rials ($756 million). Retail traders accounted for 155.9 trillion rials of trade.    

 

TSE Trade 

About 11.37 billion shares valued at 127.02 trillion rials ($488.56m) changed hands at TSE for the day.

Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.

Alborz Insurance Company was the biggest winner as its shares went up 27.03% to 5,170 rials per share. Pars Ardabil Company incurred the biggest loss among all TSE-listed companies and went down 4.57% to 142,670 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 Mellat Bank.

Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark followed by Golgohar Mining and Industrial Company, Chadormalu Mining and Industrial Company and Iran Khodro Company.

The Industry Index was up 18,365.85 points or 1.42% to register 1,309,371.79. TSE 30 went up 502.14 points to settle at 78,232.52 and the TSE 50 ended 655.56 points higher to finish at 58,024.61.

 

IFX Up 1.83%

Iran Fara Bourse main index, IFX, gained 338.74 points or 1.83% to close Saturday trade at 18,804.28.

About 2.97 billion securities valued at 64.75 trillion rials ($249.04m) were traded at the junior exchange for the day.

Esfahan Steel Company had the highest number of traded shares as 274.85 million of its shares worth 1.58 trillion rials ($6.07m) were traded.

Damavand Power Generation Company, Lavan Oil Refining Company, MahTaab Kahnouj Power Generation Company and Zagros Kowsar Power Generation Company had the most negative impact on IFX.

Marun Petrochemical Company gave the biggest boost to IFX, followed by Day Bank, Minoo Industrial Group Company and Zagros Petrochemical Company.