Penny stocks added to previous gains at the close of trading week on Wednesday while large cap shares continued to tread water.
Amid increase in prices of small caps, the equal-weighted index climbed 1.76%, reaching 468,508 -- the highest in four months. The index better reflects the performance of shares in small listed companies.
This is while the main index of Tehran Stock Exchange, TEDPIX closed a little above the flatline to gain 0.2%, indicating investors' aversion to large caps. The market-cap weighted TEDPIX added 2,946 points to close at 1,447, 915.
A review of market indicators during the third quarter of fiscal year ending Dec. 21 shows that small caps grew sharply as indicated by 7.7% gain in the equal-weighted index in the three months. In the same period TEDPIX plunged 10%.
On Wednesday, about 11.45 billion shares valued at 131.95 trillion rials ($507.53 million) changed hands at TSE. Ama Industrial Company was the biggest winner as its shares went up 13.06% to 19,830 rials per share.
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Mobarakeh Steel Company, Social Security Investment Company and Esfahan Oil Refining Company.
Golgohar Mining and Industrial Company gave the biggest boost to the benchmark index, followed by Iran Alloy Steel Company, Parsian Bank and Bahman Group Company.
IFX Up 0.12%
Iran Fara Bourse main index IFX gained 23.93 points or 0.12% to close Wednesday trade at 20,143.59. About 3.45 billion securities valued at 147.53 trillion rials ($567.44 million) were traded at the junior exchange for the day.
Pasargad Insurance Company, Hormozgan Steel Company, Marun Petrochemical Company and Esfahan Steel Company had the most negative impact on IFX.
Minoo Industrial Group gave the biggest boost to IFX, followed by Zagros Petrochemical Company, Gohar Zamin Iron Ore Company and Melal Credit Institution.
