Business And Markets

Tehran Stocks in Upbeat Mode

Tehran Stocks in Upbeat Mode
Tehran Stocks in Upbeat Mode

Tehran stocks made one of the biggest advances on Tuesday, rising for six successive sessions amid the spike in currency rates that have apparently fuelled demand for most commodity shares.
The market-cap weighted index of Tehran Stock Exchange, TEDPIX, gained 20,595 points or 1.44% closing the session at 1,453,796.72.
The TEDPIX was buoyed by surge in large caps and commodity stocks in the middle of the trading session as increase in forex  rates boosted sentiment about the rise in profit of export-oriented companies. The dollar gained close to 1.7% to fetch 262,000 rials on Tuesday.
Impacted by the performance of large caps, the TSE-30 Index gained 1.5% while the upbeat mode in small caps pushed up the TSE’s equal weighted index gaining more than 1.3%.


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