The benchmark of Tehran Stock Exchange, TEDPIX, gained 34,962 points or 2.66% to close at 1,351,467. The daily gain was the biggest in 86 trading sessions since March 16.
A spike in forex rates sparked a rally in most commodity stocks pushing up the TSE-30 Index 3.1%. The index tracks the performance of top TSE-listed companies in terms of market cap.
Commodity stocks gained after the dollar rose by more than 2.5% in Tehran, buoying up sentiment of mineral, petrochemicals and metal stockholders as higher exchange rates increase revenue of dollar-earning export companies.
The TSE’s equal-weighted index gained less and climbed 1%, indicating that small caps and penny stocks underperformed.
While commodity stocks were the top winners, auto, machinery, communication and ceramic stocks were losers. On Saturday, 297 tickers experienced price rise, representing 62% of the market.
Retail investors continued to inject fresh liquidity into the market, registering a net capital inflow of 3.11 trillion rials ($12 million).
Trade by retail traders reached 66.19 trillion rials ($264m), which is 19% higher compared with a session before. About 8.01 billion shares valued at 58.73 trillion rials ($234m) changed hands at TSE on Saturday.
Middle East Mines and Mineral Industries Development Holding Company was the biggest winner as its shares went up 7.05% to 37,800 rials per share.
Pakshoo Industrial Group Company contributed the most to the benchmark's fall, followed by Iran Khodro Company, Kermanshah Province Saham Edalat Investment Company and Mobile Telecommunication Company of Iran.
Middle East Mines and Mineral Industries Development Holding Company gave the biggest boost to the benchmark index followed by National Iranian Copper Industries Company, Persian Gulf Petrochemical Industries Company and Mobarakeh Steel Company.
IFB Gains 2%
Iran Fara Bourse main index, IFX, gained 398 points or 2.05% to close Saturday trade at 19,794. About 1.86 billion shares and securities valued at 24.75 trillion rials ($99.01 million) were traded at the junior exchange.
Esfahan Steel Company had the highest number of traded shares as 240.31 million of its shares worth 994.41 billion rials ($3.9m) were traded.
Melal Credit Institution, Minoo Industrial Group Company, Vitana Company and Day Insurance Company had the most negative impact on IFX.
Pasargad Insurance Company gave the biggest boost to IFX, followed by Arya Sasol Polymer Company, Gohar Zamin Iron Ore Company and Zagros Petrochemical Company.