Economy, Business And Markets

IFB Echoes TSE’s Upsurge

IFB Echoes TSE’s UpsurgeIFB Echoes TSE’s Upsurge

Iran Fara Bourse benchmark staged a broad rally on Saturday and surged 20.38 points or 2.77 percent to close at 756.58.

As IFB reported, Tehran Oil Refining Company, Hormozgan Steel Company and Esfahan Steel Company had the most positive contribution to IFX.

More than 262 million securities were traded in 26,665 transactions valued at $32.7 million.

About 30 million shares of Iranian Investment Petrochemical Group were traded to record the highest daily trade volume. Sina Port and Maritime Company registered the highest trade value with close to $1.6 million worth of shares traded.

The highest rise in shares’ value was registered for Tehran Housing Investment Company, Tabas Coal Company and Taknar Company. Housing loan preemptive rights prices wavered between 670,000 and 730,000 rials.

Etemad Fund topped the highest trade volume among listed exchange-traded funds. The fixed-income market witnessed the trade of 42,770 leasing bonds.

The underwriting of the new exchange-traded fund Oil Sepehr Khobregan has started and will continue for five working days. Some 2,590 units were reportedly sold on Saturday, the IFB report added.