Tehran’s stock market opened Saturday on a relatively high note making gains unseen in the past several months amid inflow of fresh liquidity by retail traders.
The main gauge of Tehran Stock Exchange, TEDPIX, gained 30,132 points to climb 2.72% closing the session at 1,139,480. It was the highest gain in at least three months.
The rally swept through most commodity stocks triggered by upsurge in the currency market, which often impacts the performance of export companies.
Big gains in large caps and commodity stocks pushed up the TSE-30 Index 4.15% indicating that large caps had the upper hand. The index tracks the performance of top 30 listed companies in terms of market cap.
The TSE’s equal-weighted index was up 0.65% indicating that penny stock made smaller gains. The bourse witnessed inflow of money by retail traders after systemic capital outflows. Net capital inflow was reported at 4.84 trillion rials ($20 million).
About 6.95 billion shares valued at 52.06 trillion rials ($216.94m) changed hands at TSE on Saturday.
Iran Ferrosilice Company was the biggest winner as its shares went up 4.99% to 4,963 rials per share. Pegah Khouzestan Dairy Company incurred the biggest loss among all TSE-listed companies and went down 19.47% to 5,750 rials per share.
Omid Investment Management Group Company contributed the most to the benchmark's fall, followed by Sepid Farab Kavir Steel manufacturing Company, Khouzestan Province Investment Company and Shahed Investment Company.
Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by Persian Gulf Petrochemical Industries Company, National Iranian Copper Industries Company and Golgohar Mining and Industrial Company.
IFB Gains 0.85%
Iran Fara Bourse main index, IFX, gained 149.89 points or 0.85% to close Saturday trade at 17,732.35. About 1.29 billion securities valued at 20.25 trillion rials ($84.4m) were traded at the junior exchange for the day.
Minoo Industrial Group Company, Pegah Golestan Dairy Company, Omid Taban Hour Energy Management Company and Marun Petrochemical Company had the most negative impact on IFX.
Arya Sasol Polymer Company gave the biggest boost to IFX, followed by Hormozgan Steel Company, Pasargad Insurance Company and Zagros Petrochemical Company.
