The winning streak of Tehran Stock Exchange continued Wednesday, with the main index climbing more than 3,000 points or 1.08%, hovering near 300,000.
Recent news about recapitalization was among the key impacting factors along with rising investor demand, especially in the bank and auto sectors, according to Donyaye Bourse, an analytical website
Experts say the sudden, but not unexpected, exit of hawkish US National Security Advisor John Bolton from the Trump White House had a positive impact on the market, making investors a little more optimistic.
Embattled President Donald Trump abruptly announced in a tweet Tuesday that he had asked Bolton to resign, noting that he "strongly disagreed with many" of Bolton's suggestions "as did others in the administration."
"I thank John very much for his service. I will be naming a new National Security Advisor next week," Trump wrote, wire services reported.
His resignation letter to Trump, dated Tuesday, was short and to the point with Bolton writing: 'I hereby resign, effective immediately, as assistant to the president for national security affairs. Thank you for having afforded me this opportunity to serve our country."
The White House is already discussing potential candidates to replace Bolton, several sources told CNN. There are at least 10 names being circulated and there does not appear to be a shortlist at this time.
TSE's main index TEDPIX gained 3,198.82 points or 1.08% on Wednesday to end trading at 299,930.6.
About 4.3 billion shares valued at 16.59 trillion rials ($143.05 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
The International Construction Development Company was the biggest winner as its shares went up 5.64% to 2,172 rials per share.
Tuka Transportation Company incurred the biggest loss among all TSE-listed companies and went down 4.92% to 16,705 rials per share.
Bandar Abbas Oil Refining Company contributed the most to the benchmark's fall, followed by Parsian Oil and Gas Development Company, Mines and Metals Development Investment Company, and MAPNA Group.
Pars Petrochemical Company gave the biggest boost to the benchmark index, followed by Tehran Oil Refining Company, and National Iranian Copper Industry Company.
The Price Index gained 859.80 points, or 1.08% to close at 80,612.9.
The First Market Index increased by 1,901.13 points, or 0.88% to post 218,349.1. Second Market Index increased by 8,409.51 points, or 1.40% to reach 608,282.5.
The Industry Index increased by 2,640.58 points or 0.99% to register 269,816.6. Free Float Index was up 4,262.21 points to hit 342,211.11.
TSE 30 increased by 107.24 points to settle at 12,834.8 and the TSE 50 ended 99.06 points higher to finish at 11,791.2.
IFX up 1.14%
Iran Fara Bourse main index IFX gained 43.95 points or 1.14% to close Wednesday trade at 3,884.89.
About 739.41 million securities valued at 5.28 trillion rials ($45.58 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 160.95 million shares worth 285.18 billion rials ($2.45 million) were traded.
Hormozgan Steel Company, Arfa Iron and Steel Company, and Sarcheshmeh Copper Investment Company had the most negative impact on IFX.
Marun Petrochemical Complex gave the biggest boost to IFX, followed by Zagros Petrochemical Company, and Lavan Oil Refining Company.
Currency and Gold
Unlike the stock market, foreign exchange rates and the yellow metal were mostly stable on Wednesday.
The US dollar sold for 115,000 on Wednesday morning in Tehran's open market. However, it closed at 116,000 in the evening, to record no significant change compared with the previous day's close.
The euro was worth 128,500 rials, registering a meager growth of 0.1% compared to the previous day's close.
Exchange shops affiliated to banks priced the USD and euro at 116,000 rials and 128,500 rials, respectively. The British pound sterling was priced 144,730 rials, up 650 rials.
Bahar Azadi, the benchmark gold coin, was traded at 40.8 million rials ($351.7) on Wednesday, 0.5% lower than Sunday's close. Emami gold coin sold for 41.01 million rials ($354.3) in Tehran's open market, down 0.6%.
Half and quarter gold coins were sold at 21.0 million rials ($181) and 13.0 million rials ($112) respectively.
One gram gold coins were traded for 9.2 million rials ($79.3) for the day.
