The main gauge of Tehran Stock Exchange climbed 1.2% Wednesday to end trading week at 266,000 points.
As seen in the past few days, trade was dominated by small and medium sized stocks on Wednesday.
However, unlike past sessions when the stocks took a reverse course in mid-day trade, the equities on Wednesday maintained an upward trend from the early hours through the end of trading day.
The trading session marked rising demand for stocks of 273 companies, accounting for more than 90% of the open symbol tickers.
Donyaye Bourse website attributes the bull market to three main reasons; firstly, the impact of boosting capital of listed companies both through retained earnings and asset revaluation.
Retained earnings are the cumulative net earnings or profit of a firm after accounting for dividends.
A positive signal from global markets was seen as the second factor that helped reduce selloff pressure in some stocks.
World stock markets edged higher on Tuesday as investors welcomed signs that more monetary and fiscal stimulus was on the way, hoping more easing would help stave off a major global economic downturn, according to Reuters.
On Wednesday, European stocks traded higher while most Asian stocks ended mixed.
The news outlet pointed to investors’ optimism about monthly financial reports of listed companies as yet another factor that can partly explain the upbeat trend.
Market Performance
The TSE's main index TEDPIX gained 3,186.19 points or 1.21% on Wednesday to end trading at 266,127.2.
About 3.13 billion shares valued at 11.46 trillion rials ($97.94 million) changed hands for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Offset Press Incorporation was the biggest winner as its shares went up 9.04% to 10,890 rials per share.
Bahman Investment Company Stock incurred the biggest loss among all TSE-listed companies and went down 3.82% to 3,323 rials per share.
Golgohar Mining and Industrial Company contributed the most to the benchmark fall followed by Eghtesad Novin Bank, Seamorgh Company (active in aviculture industry), Telecommunication Company of Iran and Bahman Investment Company.
Persian Gulf Petrochemical Industry Company gave the biggest boost to the benchmark index, followed by Mobile Telecommunication Company of Iran, Bandar Abbas Oil Refining Company and Bank Pasargad.
The Price Index gained 860.82 points, or 1.21% to close at 71,894.6.
The First Market Index increased by 1,774.54 points, or 0.93% to post 193,367.5. Second Market Index increased by 8,884.71 points, or 1.67% to reach 541,405.7.
The Industry Index increased by 2,817.00 points or 1.19% to register 238,561.0. Free Float Index was up 3,930.81 points to hit 303,763.92.
TSE 30 increased by 88.20 points to settle at 11,437.4 and the TSE 50 ended 94.11 points higher to finish at 10,520.1.
IFX Rise 1.27%
Iran Fara Bourse main index IFX gained 44.78 points or 1.27% to close Wednesday trade at 3,579.29.
About 2.05 billion securities valued at 10 trillion rials ($87.5 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 159.46 million of its shares worth 258 billion rials ($2.20 million) were sold.
Etemad Afarinan Parsian Fund registered the highest trade value as $3.59 million worth of its shares changed hands.
