Economy, Business And Markets

TEDPIX Gets Past 74,000 Mark

TEDPIX Gets Past 74,000 MarkTEDPIX Gets Past 74,000 Mark

Tehran Stock Exchange’s main index TEDPIX jumped 419.60 points or 0.57% to end Saturday trade at 74,103.6.

The TSE gauge has been rallying for six weeks now, hovering around a 14-month high. It has gained 16% since the lifting of sanctions on Jan. 16. Before that, the benchmark was hovering near two-year lows a couple of months back.

More than 1.7 billion shares valued at $104 million were traded.

The Price Index gained 161.10 points or 0.57% to settle at 28,436.3.

The First Market Index gathered 278.90 points or 0.55% to reach 51,334.3.

The Second Market Index won 1,003.60 points or 0.61% to post 165,151.6.

The Industry Index rose 325 points or 0.53% to register 61,684.7.

The Free Float Index climbed 610.06 points or 0.74% to hit 82,673.90.

The TSE 30 Index increased 8.50 points or 0.27% to hit 3,126.2 while the TSE 50 Index added 10 points or 0.34% to settle at 2,958.1.

Close to 68% of the listed companies worked in favor of the benchmark.

The Iranian Shipping Lines Company, with a P/E ratio or 42, provided the biggest boost to TEDPIX by 51.65 points, followed by National Iranian Copper Industries Company and Bandar Abbas Oil Refining Company with 47.61 and 42.51 points respectively.

Parsian Oil and Gas Development Company was the worst performer with -63.33 points. Chadormalu Mining and Industrial Company and Ghadir Investment Company followed with -38.71 and -32.26 points respectively.

  IFX Up 1.25%

Iran Fara Bourse’s main index gained 9.88 points or 1.25% to end Saturday trade at 802.02. The IFX has gained 11.3% since the nuclear deal took effect.

According to IFB, 337 million securities changed hands in 33,000 transactions valued at $67.6 million.

Bank Day recorded the highest number of shares traded for the second day in a row, as 31 million of its shares were transacted. Furthermore, Iran Cultural Heritage and Tourism Investment Group posted the highest trade value of the day.

Tuka Rail Company, Ravan Fanavar Engineering Company and Zangan Zinc Industries Company had the highest increase in shares’ value, while Tadbirgaran-e Fars and Khuzestan Company, Marjankar Company and Pasargad Oil Company filed the highest decline.

Tehran Oil Refining Company and Esfahan Steel Company were also on investors’ radar.

Etemad Fund excelled among listed exchange-traded funds with the transaction of 880,000 shares. Moreover, 600,000 leasing bonds of Dana System Kish Company were sold out.