Tehran stocks stretched two-week gains at the close of trading week on Wednesday amid rising trade by retail investors and a renewed rush for micro-cap stocks.
The market-cap weighted index, TEDPIX, gained 15,765 points to climb more than 2.1% compared with 2.4% gains for equal weighted index, an index that track all stocks irrespective of the their market.
Lower TEDPIX gains indicate investors’ renewed fresh interest in shares of small cap companies and their cautionary approach toward bigger market players, which mainly include giant petrochem, metal and refinery companies.
As seen with most of the recent sessions, retail traders had the upper hand in the market while institutional investors emerged largely passive. Individual traders conducted deals worth 73.51 trillion rials ($460 million) on TSE, according to Donyaye Bourse website.
Share prices of 260 companies listed with the TSE surged for the day, accounting for 85% of all active ticker symbols. A total of 196 ticker symbols changed hands at maximum daily prices with sell-off seen for only one symbol.
Iran’s stock market has been rather indifferent towards risks the negative oil prices pose to the performance of listed companies and that the major international bourses have been hit hard.
Market Performance
The TSE's main index TEDPIX gained 15,815.98 points, or 2.18%, on Wednesday to end trading at 741,952.44.
About 6.09 billion shares valued at 73.51 trillion rials changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Calcimine Company was the biggest winner as its shares went up 10.21% to 34,743 rials per share.
Khash Cement Company incurred the biggest loss among all TSE-listed companies and went down 4.88% to 72,399 rials per share.
Mobile Telecommunication Company of Iran contributed the most to the benchmark's fall, followed by Khorasan Steel Company, Tabriz Oil Refining Company and Tehran Oil Refining Company.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by MAPNA Group, Chadormalu Mining and Industrial Company and Mellat Bank.
The Price Index gained 4,213.6 points, or 2.18% to close at 197,666.64 while the First Market Index increased by 11,875.75 points, or 2.31% to post 524,911.59.
The Second Market Index went up 30,713.05 points, or 1.99% to reach 1,574,470.02.
The Industry Index was up 12,502.14 points or 1.95% to register 653,802.21. The Free Float Index was up 21,731.68 points to hit 941,863.97.
TSE 30 went up 514.93 points to settle at 29,606.78 and the TSE 50 ended 495.36 points higher to finish at 27,089.06.
IFX Up 2.1%
Iran Fara Bourse main index, IFX gained 185.99 points, or 2.1%, to close Wednesday trade at 9,062.44.
About 2.82 billion securities valued at 41.6 trillion rials ($266.71 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 325.9 million of its shares worth 1.25 trillion rials ($8 million) were traded.
Lavan Oil Refining Company, Zagros Petrochemical Company, Damavand Power Generation Company and Iran Cultural Heritage and Tourism Investment Group Company had the most negative impact on IFX.
Gohar Zamin Iron Ore Company gave the biggest boost to IFX, followed by Saba Tamin Investment Company, Shahid Tondgooyan Petrochemical Company and Marun Petrochemical Company.
