Tehran Stocks Get Out of the Rut

The market cap-weighted index of Tehran Stock Exchange, TEDPIX, gained 10,096 points on Saturday to close session 0.62% higher. The TSE benchmark ended trade at 1,642,037 points, a level seen by market analysts as a strong support level.  
The upsurge was due mainly to support by institutional traders and market makers to blue chips and giant listed companies that have strong impact on TEDPIX.   
Majority of small-cap shares, however, were snubbed and traded under sell-off pressure, causing the equal-weighted index to close in negative territory and drop 0.91%. The index gives the same weight to all shares irrespective of their market capitalization. 
Market data indicate that out of the total 316 active tickers symbols, 240 were in the red, representing 77% of total shares.