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%.
About 9.47 billion shares valued at 77.08 trillion rials ($308.32 million) changed hands at TSE for the day.
Pars Petrochemical Company was the biggest winner as its shares went up 5% to 200,760 rials per share.
Damavand Mining Company incurred the biggest loss among all TSE-listed companies losing 5% to 254,470 rials per share.
Middle East Mines and Mineral Industries Development Holding Company contributed the most to the benchmark's fall, followed by Pasargad Bank, Fanavaran Petrochemical Company and Telecommunication Company of Iran.
Mobarakeh Steel Company gave the biggest boost to the benchmark index followed by Pars Petrochemical Company, Tamin Petroleum and Petrochemical Investment Company and Golgohar Mining and Industrial Company.
IFX Up 1.66%
Iran Fara Bourse main index, IFX, gained 340.16 points or 1.66% to close Tuesday trade at 20,789.54.
About 3.99 billion shares and securities valued at 97.14 trillion rials ($388.57m) were traded at the junior exchange for the day.
Day Bank had the highest number of traded shares as 983.43 million of its shares worth 1.11 trillion rials ($4.46m) were traded.
Kowsar Insurance Company, Daroupakhsh Distribution Company, Alborz Distribution Company and Pasargad Insurance Company had the most negative impact on IFX.
Arya Sasol Polymer Company gave the biggest boost to IFX, followed by Gohar Zamin Iron Ore Company, Hormozgan Steel Company and Zagros Petrochemical Company.
