Economy, Business And Markets

IFX Notches Up on Oil Refining Companies

IFX Notches Up on Oil Refining CompaniesIFX Notches Up on Oil Refining Companies

The Iran Fara Bourse benchmark gained on petrochemicals and refining companies, and rose 9 points or 1.21 percent to stand at 738.51 on Wednesday trading, IFB public relations reported.

More than 87 million securities changed hands at the IFB, valued at a total of about $12.5 million to record a downward trend in trade volume and value.

The Iranian Investment Petrochemical Group, with more than 17.5 million shares, valued at about $918,300, recorded the highest trade volume and value at the IFB.

Shiraz Oil Refining Company (SORC ) was the investors’ safe haven, after they lined up to garner its share, helping the SORC shares value to experience a 5 percent increase, reaching 5 percent of its volatility cap. Tehran and Lavan Oil Refining Companies followed the SORC. According to the report, Maroun Petrochemical Company, and the Iranian Investment Petrochemical Group left the most positive impact on the benchmark.

The IFB’s so-called ‘Modern Financial Instrument Market’ witnessed the highest trade volume among the listed exchange traded funds. The ‘Fixed-Income Bonds Market’ witnessed the trade of 127,060 rental bonds.