Tehran stocks eked out robust gains on Tuesday extending an 8-day winning streak that started last Sunday amid rising demand for large caps.
The main index of Tehran Stock Exchange, TEDPIX, gained 36,261 points to jump 2.9%, closing session at 1,290,474.
Blue chips and commodity stock pushed up the market cap-weighted TEDPIX as indicated by the 4% hike in the TSE-30 Index, which tracks the performance of top 30 listed companies in terms of market cap.
Giving a better picture on performance of penny stocks, the equal-weighted index gained less and closed 0.7%.
Tuesday also featured net capital inflow by retail investors after 22 consecutive sessions of outflow, according to Eghtesad News website.
The noticeable increase in demand is partly linked to obligations on fixed income investment funds to allocate a bigger portion of their portfolios to buy stocks.
As per new rules announced by the regulator, investment funds have to allocaate 3% of their portfolio to shares by the end of the current fiscal year that ends on March 20.
TSE Trade
About 33.64 billion shares valued at 90.87 trillion rials ($378.6 million) changed hands at TSE for the day.
Khorasan Steel Company contributed the most to the benchmark's fall, followed by Barakat Pharmaceuticals Group Company, Sepid Farab Kavir Steel manufacturing Company and Bafgh Mines Company.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, National Iranian Copper Industries Company and Omid Investment Management Group Company.
IFB Up 2%
Iran Fara Bourse main index, IFX, gained 357.57 points or 2.05% to close Tuesday trade at 17,827.90. About 3.06 billion securities valued at 155.15 trillion rials ($646.5m) were traded at the junior exchange for the day.
Tejaratno Insurance Company, Kowsar Insurance Company, Iran Office Machines Industries Company and Day Insurance Company had the most negative impact on IFX.
Pasargad Insurance Company gave the biggest boost to IFX, followed by Marun Petrochemical company, Zagros Petrochemical Company and Arya Sasol Polymer Company.
