Economy, Business And Markets

TSE Rebound Piques Investors’ Interest

TSE Rebound Piques Investors’ InterestTSE Rebound Piques Investors’ Interest

More than 56% of listed companies at Tehran Stock Exchange gave a boost to TEDPIX on Wednesday to help the benchmark rise 291.2 points or 0.44% at 66,780.7.

Investors are digesting fresh developments regarding joint ventures by Iranian car manufacturers and their foreign counterparts.

Most of the previously closed ticker symbols have already reopened as large-cap stocks are enticing both retail and institutional investors to shore up their portfolios in a stock market with prices having touched their rock-bottom values.

According to TSE data, the price index added 115.8 points or 0.44% to 26,566.4 on Wednesday close. The first market index gained 201.7 points or 0.42% to settle at 47,843. The second market index was up 651.6 points or 0.47% to end at 139,891.6. The industry index climbed 161.9 points or 0.3% to 54,815.1. The free float index rose 348.1 points or 0.51% to 76,006.6. The TSE 30 index perked up 9.6 points or 0.32% to 2,937.4 and the TSE 50 index advanced 13.5 points or 0.5% to 2,736.6.

The TSE rebound was accompanied by uptrend in trade volume and value, with almost 685 million shares changing hands valued at $41.68 million to post about 25% growth in trade volume and value compared to Tuesday.

With 89.6 points, the Islamic Republic of Iran Railways was the biggest contributor to TEDPIX uptick followed by Mapna Group and Bank Tejarat with 77 and 47 points respectively.

National Iranian Copper Industries Company with -134.52 points was the biggest laggard followed by Pars Darou and Kermanshah Petrochemical Industries Company with -14 and -6 points respectively.

  IFX Catches Up With TEDPIX

In an upbeat trading day at Iran Fara Bourse, the overall index IFX gained 5.78 points or 0.74% to wrap up the week’s last trading day at 784.37.

As IFB reported, more than 83 million securities traded at IFB in about 12,600 transactions valued at close to $13.9 million.

Esfahan Steel Company with the trade of more than 12.2 million shares worth $751,367 recorded the highest daily trade volume and value.

The highest rise in shares’ prices was registered for Ravan Ara Compnay, G.T.S.Iranian Company and Housing Investment Company’s rights offerings. Jam Petrochemical Company and Esfahan Steel Company gave the biggest boost to IFX.

Fanava Company, Shahroud Industrial and Mining Company and Afranet posted the biggest retreat in their shares value.

The fixed-income market witnessed the trade of 41,230 leasing bonds of RighTel Company. Moreover, Etemand Fund recorded the highest trade volume with more than 1.7 million shares.