Tehran stocks bucked a declining trend at the close of trade on Wednesday – a trend that has dominated the share market over the past five sessions.
The fragile recovery was due to the price rise in a limited number of big tickers such as refinery, petrochemical and mineral shares.
Large caps pushed up the market cap-weighted benchmark of Tehran Stock Exchange, TEDPIX, by 0.27%, gaining 3,483 points to end trading at 1,279,449.
The TSE-30 Index, which tracks the performance of top 30 companies in terms of market cap, was up more than 0.4%.
This is while majority of penny stocks continued to lose value on Wednesday, dragging down the TSE’s equal-weighted index 0.4%.
Retail trade declined 10% to reach 24.86 trillion rials ($93 million), accounting for 34% of the total.
About 4.8 billion shares valued at 31.78 trillion rials ($113m) changed hands at TSE for the day.
Trading at TSE and the junior equity exchange Iran Fara Bourse starts on Saturday and ends Wednesday.
Persian Gulf International Transportation Company was the biggest winner as its shares went up 4.81% to 5,365 rials per share.
Shahroud Sugar Company incurred the biggest loss among all TSE-listed companies and went down 4.92% to 1,952 rials per share.
The National Iranian Copper Industries Company contributed the most to the benchmark's fall, followed by Khouzestan Steel Company, Esfahan Steel Company and Iran Khodro Company.
Bandar Abbas Oil Refining Company gave the biggest boost to the benchmark index followed by Esfahan Oil Refining Company, Golgohar Mining and Industrial Company and Tehran Oil Refining Company.
IFX Down 0.07%
Iran Fara Bourse main index, IFX, lost 12.75 points or 0.07% to close Wednesday trade at 17,642. About 1.55 billion shares and securities valued at 35.35 trillion rials ($126m) were traded at the junior exchange for the day.
Arfa Iron and Steel Company, Gohar Zamin Iron Ore Company, Zagros Petrochemical Company and Pasargad Insurance Company had the most negative impact on IFX.
Lavan Oil Refining Company gave the biggest boost to IFX, followed by Minoo Industrial Group Company, Ghaed Basir Petrochemical Company and Shiraz Oil Refining Company.
