The benchmark of Tehran Stock Exchange gained more than 5,800 points on Monday to push TEDPIX about 1.6% higher as investor sentiment for short-term gains remains high.
As seen in recent days, the market is dominated by retail and natural entity investors who are more interested in the shares of small-companies in their pursuit of overnight gains.
Buying ofsmall stocks sent the equal-weighted index, which gives the same weight to all stocks regardless of volume and value, higher than the main index at 1.8%.
Apart from inflow of liquidity and investor optimism toward quarterly reports of listed companies, which were the main drivers of incessant rallies over the past month, investors were buoyed by the government’s partial approval of an executive bylaw outlining the terms for asset revaluation of listed companies.
The bylaw was expected to get final approval of the Cabinet after getting the go-ahead from the Economic Commission of the government on Monday.
Market Performance
The TSE's main index TEDPIX gained 5,818.69 points, or 1.57%, on Monday to end trading at 375,547.7.
About 5.22 billion shares valued at 29.88 trillion rials ($230.78 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Iran Chemical Industries Investment Company was the biggest winner as its shares went up 5% to 10,710 rials per share.
Hamadan Glass Company incurred the biggest loss among all TSE-listed companies and went down 4.16% to 13,502 rials per share.
Pars Petrochemical Company contributed the most to the benchmark's fall, followed by Omid Investment Management Group Company, Jam Petrochemical Company and Jam Polypropylene Company.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Bandar Abbas Oil Refining Company, MAPNA Group and Esfahan Oil Refining Company.
The Price Index gained 1,556.72 points, or 1.57% to close at 100,481.9.
The First Market Index increased by 3,932.15 points, or 1.49% to post 267,837.2. Second Market Index increased by 13,164.03 points, or 1.70% to reach 786,717.0.
The Industry Index increased by 5,366.46 points or 1.62% to register 336,666.5. Free Float Index was up 6,261.82 points to hit 446,274.68.
TSE 30 increased by 187.78 points to settle at 15,619.5 and the TSE 50 ended 208.28 points higher to finish at 14,205.9.
IFX Up 2.44%
Iran Fara Bourse main index IFX gained 108.22 points, or 2.24%, to close Monday trade at 4,931.44.
About 1.82 billion securities valued at 13.86 trillion rials ($107.08 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company, General Mechanic Company, Saman Insurance Company and Khazar Sea Shipping Lines Company had the most negative impact on IFX.
Marun Petrochemical Company gave the biggest boost to IFX, followed by Damavand Power Generation Company, Gohar Zamin Iron Ore Company and Omid Taban Hour Energy Management Company.
