Tehran stocks bounced back on Sunday from a downturn in the previous session gaining 4.1% with 71,484 points.
Sunday’s gain put the main index of Tehran Stock Exchange at an all-time high of 1,812,832 points, barely 10% shy of the milestone 2 million points.
The TSE equal-weighted index jumped 3.1% for the day, indicating that the rally swept through a broad range of shares, according to data released by the Tehran Securities Exchange Technology Management Company.
While opening on a new high note amid long lines of buy orders, particularly for large-cap shares, demand for shares slightly scaled back later as institutional traders increased offers and retailers rushed to sell to save gains.
Unprecedented offers by main shareholders caused some large-cap tickers to retreat from the maximum daily prices but the upbeat mood was seen throughout the trading session.
Spike in foreign exchange rates and huge inflow of fresh liquidity are seen as key factors driving the shares. Market data shows retail cash inflow was 56.24 trillion rials on Sunday and was mainly directed toward basic metals and petroleum products.
This is while investment and financial companies witnessed the highest cash outflow for the day.
TSE Trade
About 10.75 billion shares valued at 199.18 trillion rials ($877.47 mllion) changed hands at TSE on Sunday.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Kharazmi Investment Company was the biggest winner as its shares went up 26.82% to 17,260 rials per share.
Iran Refractories Company incurred the biggest loss among all TSE-listed companies and went down 3.65% to 71,460 rials per share.
Pardis Petrochemical Company contributed the most to the benchmark's fall, followed by Alborz Investment Group Company, Pars Darou Pharmaceutical Company and Khorasan Sabet Sugar Company.
Golgohar Mining and Industrial Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, Persian Gulf Petrochemical Industries Company and National Iranian Copper Industries Company.
The Price Index gained 18,871.62 points, or 4.10% to close at 478,616.87. The First Market Index increased by 57,629.49 points, or 4.34% to post 1,386,385.69.
The Second Market Index went up 122,536.34 points, or 3.72% to reach 3,416,346.84. Industry Index was up 62,646.4 points or 4.06% to register 1,606,726.18. Free Float Index was up 93,553.63 points to hit 2,366,810.88.
TSE 30 went up 3,987.95 points to settle at 90,387.66 and the TSE 50 ended 3,049.62 points higher to finish at 72,688.26.
IFX Up 3.11%
Iran Fara Bourse main index, IFX, gained 565.46 points, or 3.11%, to close Sunday trade at 18,733.02.
About 3.89 billion securities valued at 80.7 trillion rials ($355.67 million) were traded at the over-the-counter exchange.
Middle East Mines and Mineral Industries Development Holding Company, Saveh Cement Company, Hejrat Distribution Company and Taliseh Nemooneh Dairy Farm Company had the most negative impact on IFX.
Marun Petrochemical Company gave the biggest boost to IFX, followed by Saba Tamin Investment Company, Shahid Tondgooyan Petrochemical Company and Esfahan Steel Company.
