Economy, Business And Markets

TSE Benchmark Extends Gain on Optimism

TSE Benchmark Extends Gain on OptimismTSE Benchmark Extends Gain on Optimism

Tehran Stock Exchange’s benchmark piled up more gains in a fresh rally amid upbeat news, to notch up 276 points or 0.43 percent at Saturday’s close, ending higher at 63,835.7.

The optimism about a probable nuclear accord between Iran and the six world powers saw investors shoring up their portfolios in the coming days.

According to TSE data, the first market index rose 69.2 points or 0.15 percent to end at 45,807.9.

The second market index surged 1,381 points or 1.05 percent to close at 133,281.

The free float index was up 273.3 points or 0.38 percent to 72,933.1.

The industry index rose 216.2 points or 0.41 percent to 52,334.8 and the blue-chip index climbed 14.2 points or 0.49 percent to 2,924.2.

As the ambiguities are resolving, a dramatic increase in trade volume was recorded at TSE. Around 1.17 billion shares changed hands to post close to a 100-percent surge compared with the previous trading day. The daily trade value reached around $56 million.

TSE conglomerates, including petrochemicals, the banking sector and minerals were investors’ safe haven. The TEDPIX uptick was mostly boosted by Persian Gulf Petrochemical Industry Company.

The Islamic Republic of Iran Shipping Lines and Tamin Petroleum & Petrochemical Investment Company with about 36 and 27 points took the second and third place respectively.

Many of the listed companies at TSE ended in red however, with Parsian Oil and Gas Development Company leading the laggards.

Bank Mellat and Behshahr Industrial Company, with close to 10 and 6 points, followed POGDC.