Tehran Stock Exchange's main index, TEDPIX, gained 70,917.38 points or 4.5% on Wednesday to end at 1,647,314.51, the highest since September 2020, the TSE website reported.
Possibility of taxing capital gain is seen as the main contributing factor behind the rare growth, market observers say. In their view the tax can help attract investors from parallel markets such as gold and currency to the long-struggling capital market.
Auto sales via the Iran Mercantile Exchange is also seen as having a positive impact on TEDPIX.
The TSE’s equal-weighted index gained 2.92% on the last working day of the week.
About 19.4 billion shares worth 118.92 trillion rials ($410.07 million) changed hands for the day. Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Iran Zinc Mines Development Company led the winner’s list as its shares jumped 6.99% to 26,170 rials per share.
Khavar Spring Manufacturer Company was the big loser among all TSE-listed companies plunging 4.74% to 13,860 rials per share.
Sobhan Pharmaceutical Group Company contributed the most to the benchmark's fall, followed by Hegmatan Sugar Company, Azarbayjan Investment Development Company and Khavar Spring Manufacturer 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 Esfahan Oil Refining Company.
IFX Rises 2.97%
Iran Fara Bourse main index IFX gained 588.16 points or 2.97% to close Wednesday at 20,417.42.
About 8.69 billion securities worth 90.5 trillion rials ($312m) were traded at the over-the-counter exchange for the day.
Day Bank had the highest number of traded shares at 1.37 billion worth 978.89 billion rials ($3.37m).
Kosar Bahman Investment Management Company was in the lead in terms of growth among all IFB-listed companies climbing 6.98% to reach 2,728 rials per share.
The big loser was Dena Afarin Fadak Food Preparation and Distribution Company plunging 5.09% to reach 18,100 rials per share.
Dena Afarin Fadak, Minoo Industrial Group Company, Ghadir Capital and Industrial Development Company and Caspian Tamin Pharmaceutical Company had the most negative impact on IFX.
Gohar Zamin Iron Ore Company gave the biggest boost to IFX, followed by Arya Sasol Polymer Company, Pasargad Insurance Company and Saba Tamin Investment Company.
