Leaving behind lethargic times, equities in the Tehran Stock Exchange showed some signs of recovery Wednesday amid investor enthusiasm to buy shares of small companies.
The TSE benchmark rose more than 3,600 points for the day and climbed 1.2% to close trading week in positive territory.
Given the visible absence of sellers, investors’ foray to buy shares pushed up prices of more than 300 companies (representing 92% of all listed companies), according to Donyaye Bourse website.
TSE trade data on Wednesday indicates that the shares of small companies were more appealing to investors as they largely shied away from trading in commodity, bank, and auto stocks.
Rising demand for small equities sent the equal-weighted index more than 3% higher for the day.
Prices of a wide range of stocks remain depressed following heavy losses of the past days, which has apparently encouraged risk-taking investors to buy shares at lower prices
Market Performance
The TSE's main index TEDPIX gained 3,690.90 points, or 1.21%, on Wednesday to end trading at 309,660.8.
About 2.40 billion shares valued at 9.54 trillion rials ($85.61 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Kowsar Pharmaceutical Company was the biggest winner as its shares went up 10.04% to 7,999 rials per share.
One and One (major food company) incurred the biggest loss among all TSE-listed companies and went down 5% to 74,451 rials per share.
Pars Petrochemical Company contributed the most to the benchmark's fall, followed by Jam Petrochemical Company, Nouri Petrochemical Company, and Persian Gulf Petrochemical Industries Company.
MAPNA Group gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, Tabriz Oil Refining Company and Iran Khodro Company (IKCO).
The Price Index gained 988.98 points, or 1.21% to close at 82,967.1.
The First Market Index increased by 2,615.48 points, or 1.17% to post 225,492.5. Second Market Index increased by 7,810.27 points, or 1.26% to reach 627,781.3.
The Industry Index increased by 3,127.93 points or 1.14% to register 276,825.9. The Free Float Index was up 5,673.84 points to hit 353,762.10.
TSE 30 increased by 77.73 points to settle at 13,544.6 and the TSE 50 ended 66.70 points higher to finish at 12,270.1.
IFX Up 1.95%
Iran Fara Bourse main index IFX gained 75.01 points or 1.95% to close Wednesday trade at 3,927.58.
About 800.6 million securities valued at 5.21 trillion rials ($46.80 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 163.44 million of its shares worth 320.91 billion rials ($2.87 million) were traded.
Hormozgan Steel Company, Lavan Oil Refining Company, IRANOL Oil Company and Melal Bank had the most negative impact on IFX.
Esfahan Steel Company gave the biggest boost to IFX, followed by Marun Petrochemical Complex, Shiraz Oil Refining Company and Khazar Sea Shipping Lines.
