Tehran Stocks climbed more than 3% at the close of trading week on Wednesday spurred by rising demand for shares of banks, chemical firms and base metal companies.
The main gauge of Tehran Stock Exchange, TEDPIX, added 19,314 points to close session at 645,722. Equal-weighted index was up 2.92%, indicating that a broad range of small and large-cap shares rallied.
The retail traders bought 51.8 trillion rials ($323 million) worth of shares on Wednesday with stocks in bank, chemical and base metal categories being the most attractive.
This is while institutional traders were mainly interested in mineral and sugar companies, according to Donyaye Bourse website.
Out of a total 310 active ticker symbols of companies listed with TSE, shares of 188 companies were traded at the highest daily price, representing 60% of all companies.
Stocks extended a week-long bull market on Wednesday as opposed to world markets. Global stocks fell Wednesday as oil prices dropped and warnings of the worst global recession since the 1930s underscored the economic damage done by the coronavirus pandemic, according to Reuters.
Market Performance
The TSE's main index TEDPIX gained 19,353.52 points, or 3.09%, on Wednesday to end trading at 645,762.3.
About 7.82 billion shares valued at 71.47 trillion rials ($455.27 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Chodan Sazan Company was the biggest winner as its shares went up 13.2% to 21,324 rials per share.
Sepanta Communication Development Company incurred the biggest loss among all TSE-listed companies and went down 4.79% to 195,550 rials per share.
Kowsar Agricultural Investment Company contributed the most to the benchmark's fall, followed by Mobile Telecommunication Company of Iran, Pars Oil Company and Sepanta Communication Development Company.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, National Iranian Copper Industries Company and Mellat Bank.
The Price Index gained 5,157.23 points, or 3.09% to close at 172,079.58. The First Market Index increased by 13,792.25 points, or 3.14% to post 453,008.0. The Second Market Index went up 40,590.35 points, or 3.02% to reach 1,386,334.8.
The Industry Index was up 16,627.3 points or 2.99% to register 572,724.5. The Free Float Index was up 27,517.9 points to hit 822,720.4.
TSE 30 went up 775.7 points to settle at 25,262.2 and the TSE 50 ended 688.2 points higher to finish at 23,279.5.
IFX Up 2.33%
Iran Fara Bourse main index IFX gained 186.46 points or 2.33% to close Wednesday trade at 8,183.56.
About 2.71 billion securities valued at 30.87 trillion rials ($196.63 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 308.55 million of its shares worth 1.08 trillion rials ($6.9 million) were traded.
Pasargad Oil Company, Pegah Fars Dairy Company, Shahid Tondgooyan Petrochemical Company and Asia Seir Aras Company had the most negative impact on IFX.
Saba Tamin Investment Company gave the biggest boost to IFX, followed by Esfahan Steel Company, Hormozgan Steel Company and Zagros Petrochemical Company.
