The benchmark of Tehran Stock Exchange jumped more than 2.6% on Monday to extend a winning streak into the second day.
TSE’s main index, TEDPIX, peaked a new high by adding 13,745 points for the day and finished trading session at 529,328.95.
Out of a total of 312 symbol tickers of listed companies on Monday, 157 symbols were traded at the highest daily prices with buy orders on the waiting list valuing 11.9 trillion rials ($79 million). Symbols of 272 companies closed the session in positive territory, according to Donyaye Bourse website.
Rise in foreign exchange rates in Iran is seen as the main driver of stocks. Investors usually turn to stocks as safe heavens to avoid deprecation of their rial assets.
The market was visibly dominated by individual traders as institutional investors emerged largely as sellers. The net worth of shares bought by individual and retail investors from institutional traders on Monday amounted to 8.17 trillion rials ($52 million), the highest since January 12.
About 7.19 billion shares valued at 54.03 trillion rials ($344.13 million) changed hands for the day.
Azar Refractories Company was the biggest winner as its shares went up 10.22% to 31,285 rials per share.
Damavand Mining Company incurred the biggest loss among all TSE-listed companies and went down 4.73% to 98,726 rials per share.
Khouzestan Steel Company contributed the most to the benchmark's fall, followed by Pars Switch Company (an electronic company), Iran Alloy Steel Company and Parsian Bank.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, Telecommunication Company of Iran and Mobile Telecommunication Company of Iran.
The main index of Iran Fara Bourse, IFX, gained 109.29 points, or 1.64%, to close Monday trade at 6,784.33.
About 2.43 billion securities valued at 25.71 trillion rials ($162.76 million) were traded at the over-the-counter exchange for the day.
