Economy, Business And Markets

Stocks Uphold Rally

Stocks Uphold RallyStocks Uphold Rally

Tehran Stock Exchange’s main index TEDPIX rose 465.82 points or 0.63% to settle Sunday trade at 74,569.4.

More than 2.1 billion shares valued at $118.1 million were traded, indicating a slight rise in trade value compared to Saturday.

The Price Index gathered 178.80 points or 0.63% to end at 28,614.4.

The First Market Index jumped 497.70 points or 0.97% to reach 51,832.

The Second Market Index inched up 32 points or 0.02% to register 165,183.

The Industry Index won 125.70 points or 0.20% to post 61,810.4.

The Free Float Index added 962.57 points or 1.16% to settle at 83,636.50.

The TSE 30 Index advanced 32.80 points or 1.05% to hit 3,159 while the TSE 50 Index gained 15.70 points or 0.53% to finish at 3,000.8.

More than 65% of the listed companies contributed to the benchmark’s uplift.

Bank Saderat Iran with a P/E ratio of 7 provided the biggest boost to TEDPIX by 63.38 points, followed by Bandar Abbas Oil Refining Company and Bank Tejarat with 55.38 and 54.38 points respectively.

Persian Gulf Petrochemical Industries Company had the most downbeat performance with -64.16 points. Mobarakeh Steel Company and Islamic Republic of Iran Shipping Line took the next ranks with -28 and -21.04 points respectively.

  IFX Up 0.39%

Iran Fara Bourse’s main index IFX grew 3.11 points or 0.39% to stop at 805.13.

According to IFB, more than 478 million securities were traded in 41,000 transactions valued at $50.2 million, with daily trade value dropping more than $10 million compared to Saturday.

Ghasem Iran Distribution Company, Esfahan Steel Company and Kerman Development and Construction Company had the highest increase in shares’ value, while Amir Kabir Petrochemical Company and Saman Insurance Company filed the highest decline.

Bank Day, for the third day in a row, registered the highest number of shares traded and the highest trade value of the day as 89 million shares worth more than $4.1 million changed hands.

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

HIC Fund with the transaction of 700,000 shares registered the highest trade volume among listed exchange-traded funds.