Tehran’s share market was choppy at the start of trading week on Saturday as a strong rally in the early hours weakened as trading session drew to a close.
Despite mounting sell-side pressure in the late hours, the main index of Tehran Stock Exchange, TEDPIX, closed higher gaining 5,745 points or 0.44% to end trade at 1,311,241.
The benchmark growth was mainly due to price rise in most refinery stocks following reports that the government plans to offer discounts on feedstock sold to the refiners.
The session saw some growth in capital inflow by retail traders. According to Eqtesad News, net capital injection by retail investors was 1.35 trillion rials ($5.6 million), up 462% compared to the earlier session.
Some 8.6 billion shares worth 62.13 trillion rials ($248m) changed hands at TSE for the day. Saipa Azin Company was the biggest winner as its shares went up 5% to 3,740 rials per share.
Chadormalu Mining And Industrial Company contributed the most to the benchmark's fall, followed by Pardis Petrochemical Company, Khouzestan Steel Company and Parsian Bank.
Middle East Mines and Mineral Industries Development Holding Company gave the biggest boost to the benchmark index, followed by Esfahan Oil Refining Company, Parsian Oil and Gas Development Group Company and Tehran Oil Refining Company.
IFB Near Flatline
The main index Iran Fara Bourse, IFX, closed slightly below the flatline, losing 2.92 points or 0.02% to close Saturday session at 18,987.27.
About 2.65 billion shares and securities valued at 200.18 trillion rials ($800m) were traded at the junior exchange for the day.
The biggest loser at IFB was Asia Seir Aras Company, a transport company, as it fell 9.32% to reach 29,152 rials per share.
Minoo Industrial Group Company, Arya Sasol Polymer Company, Zagros Petrochemical Company and Melal Credit Institution had the most negative impact on IFX.
Saba Tamin Investment Company gave the biggest boost to IFX, followed by Day Bank, Shiraz Oil Refining Company and Lavan Oil Refining Company.
