Economy, Business And Markets

Stocks Bounce Back

Stocks Bounce BackStocks Bounce Back

Most of the listed companies at Tehran Stock Exchange outperformed on Tuesday and helped TEDPIX to stage a steady rally amid upbeat news of the endorsement of the nuclear deal by the Iranian Parliament. The overall index rose 137.8 points or 0.22% to close at 61,434.4.

The parliament gave its approval to the deal Tehran reached with world powers over its nuclear program to soothe unsettled investors’ concern and pave the way for fresh economic momentum in the country.

According to TSE data, all indices settled in green with the Free Float Index providing the biggest boost to the TSE gauge.

The Price Index was up 54 points or 0.22% to end at 24,065.2. The First Market Index climbed 116.2 points or 0.27% to reach 42,552.4. The Second Market Index gained 191 points or 0.14% to stand at 136,868. The Industry Index advanced 103.9 points or 0.21% to close at 50,960.8.

The Free Float Index pulled higher 275.21 points or 0.41% to settle at 67,960.4. The TSE 30 Index notched up 6.3 points or 0.24% to close at 2,619.8 and the TSE 50 index was up 4.2 points or 0.17% to stand at 2,508.3.

More than 524 million shares changed hands valued at $32.52 million.

MAPNA Group with 29.13 points was the top gainer of the day. Iran Khodro and Bank Mellat with 17 and 7 points took the second and third places respectively.

About 30% of listed companies weighed on the benchmark. Informatics Services Corporation with 12.2 points was the biggest laggard followed by Bandar Abbas Oil Refining Company and Telecommunications Company of Iran with 9 and 6 points respectively.

  IFX Up 1.27%

Iran Fara Bourse’s benchmark notched up 8.59 points or 1.27% to end at 686.59. The IFX was mainly boosted by Marun Petrochemical Company.

More than 88 million securities traded in 23,169 transactions worth $14.28 million, the IFB reported.

The newly debuted shares of TUKA Refractories Production & Services Company once again recorded the highest daily trade volume and value.

Kerman Civil and Development Company, TUKA and Zagros Petrochemical Company registered the highest rise in shares’ value while Niroo Sarmayeh Company, Zangan Company and Kharazmi IT Development Company registered the highest retreat.

Isfahan Steel Company, Iranian Petrochemical Investment Group, Bank Day, Pegah Fars Diary Company, Shirvan Sugar Company, Tehran Oil Refining Company as well as Lavan Oil Refining Company were also on investors’ radar.

Asam Fund with transaction of 200,000 units registered the highest daily trade volume among listed exchange-traded funds at IFB.

The transaction of 100,000 murabaha bonds of Glucozan Company with three months maturity, helped the company to record the highest trade volume in Fixed-Income Securities Market.