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Business And Markets

Tehran Stocks Nudge Slightly Higher

Tehran Stock Exchange gained some traction on Wednesday after it was hit by one of the biggest losses in the current fiscal year (started March 21).   

TSE's main index TEDPIX gained 668.05 points, or 0.22%, on Wednesday to end trading at 309,647.0.

About 3.37 billion shares valued at 11.82 trillion rials ($103.73 million) changed hands at TSE for the day.

Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.

Noosh Mazandaran Company (dealing in food products) was the biggest winner, as its shares went up 5% to 34,328 rials per share.

Offset Press Incorporation incurred the biggest loss among all TSE-listed companies and went down 29.86% to 11,451 rials per share. It contributed the most to the benchmark's fall, followed by Dr. Abidi Pharmaceutical Company, Eghtesad Novin Bank and Daroupakhsh Holding Company.

Bandar Abbas Oil Refining Company gave the biggest boost to the benchmark index, followed by Esfahan Oil Refining Company and Golgohar Mining and Industrial Company.

The Price Index gained 179.60 points, or 0.22% to close at 83,219.7.

The First Market Index increased by 1,585.27 points, or 0.71% to post 225,104.3.

The Second Market Index went down 3,554.25 points, or 0.56% to reach 629,435.8.

The Industry Index increased by 725.75 points, or 0.26% to register 276,879.8. The Free Float Index was down 824.76 points to hit 352,847.40.

TSE 30 increased by 172.23 points to settle at 13,607.5 and TSE 50 ended 140.14 points higher to finish at 12,325.7.

Iran Fara Bourse ended in negative territory, with its  main index IFX losing 48.92 points, or 1.25%, to close  trading week at 3,868.45.

About 1.75 billion securities valued at 8.04 trillion rials ($70.57 million) were traded at the over-the-counter exchange for the day.

Hormozgan Steel Company, Jahrom Power Plant Development Company, Esfahan Steel Company and Lavan Oil Refining Company had the most negative impact on IFX.

Zagros Petrochemical Company gave the biggest boost to IFX, followed by Goharzamin Iron Ore Company, Damavand Power Generation Company and Daroupakhsh Distribution Company.