Tehran stocks extended the previous session’s rally on Sunday as investors welcomed shares of big commodity companies, namely mining, metal, petrochemical and refinery industries.
The benchmark of Tehran Stock Exchange, TEDPIX, crossed above the critical 1.3 million points, gaining 23,832.67 points or 1.84% to finish at 1,322,615.
Tracking the performance of the top 30 large caps, the TSE-30 Index climbed more than 2.7% while small caps lagged behind as the TSE’s equal-weighted index gained a little more than 0.8%.
Commodity shares rallied influenced largely by prices in international markets. According to a report by Reuters, the global commodity markets headed for their biggest weekly gains in years as the shuttering of Ukrainian ports and sanctions against Russia sent energy, crop and metal buyers scrambling for replacement supplies.
Market data of the past two sessions indicates increasing investor interest in the share market. Retail trade increased 21% compared with the previous session to reach 58.3 trillion rials ($220 million) on Sunday, the highest in four months.
About 9.85 billion shares valued at 58.86 trillion rials ($226 million) changed hands at TSE for the day.
Azarbayjan Investment Development Company was the biggest winner as its shares went up 5% to 45,160 rials per share.
Agricultural Industries and Services Development Company incurred the biggest loss among all TSE-listed companies and went down 4.82% to 37,530 rials per share.
Opal Kani Pars Mining and Processing Company contributed the most to the benchmark's fall, followed by Pars Petrochemical Company, Fars and Khouzestan Cement Company and Post Bank of Iran.
Mobarakeh Steel Company gave the biggest boost to the benchmark index followed by Chadormalu Mining And Industrial Company, National Iranian Copper Industries Company and Parsian Oil and Gas Development Group Company.
IFX Up 0.6%
Iran Fara Bourse main index, IFX, gained 103.11 points or 0.58% to close Sunday trade at 17,791. About 3.19 billion securities valued at 50.15 trillion rials ($192.9m) were traded at the junior exchange for the day.
Pouya Zarkan Agh Darreh Company, Takhte Jamshid Petrochemical Industries Company, Negin Software Systems Development Company and Iran Cultural Heritage and Tourism Investment Group Company had the most negative impact on IFX.
Zagros Petrochemical Company gave the biggest boost to IFX, followed by Hormozgan Steel Company, Lavan Oil Refining Company and Shiraz Oil Refining Company.
