Tehran stocks closed trading week on Wednesday around the flatline to buck a bearish trend that dominated the market since Saturday.
The main gauge of Tehran Stock Exchange, TEDPIX, posted a meager gain of 364.05 points, or 0.07%, to end the session at 520,211.05.
Tehran stocks were in the red for three consecutive sessions amid investor anxiety over the future of the market given the deep downturn in global markets.
The domestic market responded positively to the outcome of a High Council of Securities and Exchange meeting on Tuesday. The council decided not to tighten the cap on price spread, a proposal backed by the Securities and Exchange Organization in bid to tame unreasonable growth in stock indicators.
The decision eased jitters as investors had been perturbed in recent days by the interventionist approach of stock market officials.
On Wednesday 7.16 billion shares valued at 67.8 trillion rials ($451.99 million) changed hands.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Pars Minoo Industrial Company was the biggest winner as its shares went up 5% to 30,765 rials per share.
Hafez Tile Company incurred the biggest loss among all TSE-listed companies and went down 5% to 15,810 rials per share.
Par Petrochemical Company contributed the most to the benchmark's fall, followed by Ghadir Investment Company, Islamic Republic of Iran Shipping Lines Company and Persian Gulf Petrochemical Industries Company.
Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by National Iranian Copper Industries Company, Mobile Telecommunication Company of Iran and Mellat Bank.
IFX Up 0.34%
Iran Fara Bourse main index IFX gained 22.95 points or 0.34% to close Wednesday trade at 6,767.17.
About 2.17 billion securities valued at 35.07 trillion rials ($233.8 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 206.36 million of its shares worth 560.48 billion rials ($3.73 million) were traded.
Zagros Petrochemical Company, Damavand Power Generation Company, Mehr Ayandegan Financial Development Group Company and Lavan Oil Refining Company had the most negative impact on IFX.
Esfahan Steel Company gave the biggest boost to IFX, followed by Middle East Mines and Mineral Industries Development Holding Company, Iran Office Machines Industries Company and Jahrom Power Plant Development Company.
