Tehran stocks closed trading week Wednesday bullish amid new demand that sent share prices to multi-month highs.
The benchmark of Tehran Stock Exchange, the market cap-weighted TEDPIX, gained 24,918.84 points or 1.62% to end trade at 1,564,449, the highest in eight months.
As seen in most of previous sessions, small caps made bigger gains pushing up the TSE’s equal-weighted index by more than 2.2%.
The main winners were food companies pushing up the TSE’s Food-Index by 4.89%. Shares of these companies were well-received by investors buoyed up by steep rise in prices of food after the government put an end to the subsidized currency ($1=42,000 rials) for importing basic goods earlier in the week.
Retail trade jumped 18% on the session before to reach 65.48 trillion rials ($225 million).
About 13.04 billion shares valued at 72.82 trillion rials ($260m) changed hands at TSE on Wednesday.
Trading at TSE and the junior equity exchange Iran Fara Bourse starts on Saturday and ends Wednesday.
Goltash Company was the biggest winner as its shares went up 6% to 5,886 rials per share. Sina Bank incurred the biggest loss among all TSE-listed companies and went down 3.31% to 2,804 rials per share.
Sina Bank contributed the most to the benchmark's fall, followed by Jam Polypropylene Company, Iran Kish Credit Card Company and Fanavaran Petrochemical Company.
Mobarakeh Steel Company gave the biggest boost to the benchmark index followed by Ghadir Investment Company, Social Security Investment Company and Golgohar Mining and Industrial Company.
IFX Up 1.45%
Iran Fara Bourse main index, IFX, gained 306.64 points or 1.45 % to close Wednesday at 21,395.75.
About 3.44 billion shares and securities valued at 48.55 trillion rials ($173.4m) were traded at the junior equities exchange for the day.
Damavand Electricity Generation Company, Pasargad Oil Company, Kharazmi IT Development Company and General Mechanic Company had the most negative impact on IFX.
Marun Petrochemical Company gave the biggest boost to IFX, followed by Shahid Tondgooyan Petrochemical Company, Saba Tamin Investment Company and Minoo Industrial Group Company.
