Economy, Business And Markets

TEDPIX Maintains Upward Momentum

TEDPIX Maintains Upward MomentumTEDPIX Maintains Upward Momentum

Tehran Stock Exchange’s main index TEDPIX advanced 240.10 points or 0.31% to end Monday trade at 78,688.4. Mining companies, auto manufacturers and banks were the main driving force behind the benchmark’s growth.

About 1.5 billion shares valued at $89.6 million were transacted for the day. The number of traded shares jumped by 500 million and daily trade value grew by about 15% compared to Sunday’s figures.

Iranian Petrochemical Investment Group was the biggest winner, with its shares going up 55.70% to 1,557 rials each.

Fars and Khuzestan Cement Company was the worst performer, as its shares dropped 4.48% to 1,896 each.

Chadormalu Mining and Industrial Company with a P/E ratio of 19 provided the biggest boost to TEDPIX by 68.27 points, followed by SAIPA and Bank Tejarat with 60.3 and 51.04 points respectively.

Iran Mobile Telecommunications Company was the biggest market laggard with -55.09 points followed by Tamin Oil, Gas and Petrochemical Investment Group and Esfahan Oil Refining Company with -37.45 and -31.18 points respectively.

The Price Index gained 90.60 points or 0.31% to close at 29,700.5.

The First Market Index jumped 369.20 points or 0.67% to reach 55,383.1.

The Second Market Index shed 703 points or 0.41% to settle at 170,149.

The Industry Index advanced 26.40 points or 0.04% to register 65,447.1.

The Free Float Index won 506.78 points or 0.58% to hit 88,260.90.

The TSE 30 Index was up 23.60 points or 0.72% to record 2,389.7 while the TSE 50 Index added 9.70 points or 0.31% to post 3,168.9.

  IFX Gathers 6.46 Points

Iran Fara Bourse’s all-share index IFX gained 6.46 points or 0.81% to end at 801.82.

According to IFB data, close to 240 million securities valued at $31.6 million changed hands in 25,000 transactions. As such, daily trade value shrank by about $13 million compared to the previous trading day.

Esfahan Steel Company recorded the highest number of shares traded as well as the highest daily trade value, with 37 million of its shares worth $2.8 million changing hands.

Arfa Steel Company, Hormozgan Steel Company and Day Insurance Company reguistered the biggest increase in share value, while Ghasem Distribution Company, Ballast Company and Iranian Reinsurance Company experienced the biggest declines.

Middle East Mines and Mineral Industries Development Holding Company and Zagros Electricity Company weighed most on the benchmark.

Etemad Fund, with the transaction of three million shares, registered the highest trade volume among listed exchange-traded funds.

Furthermore, 100,000 Murabaha bonds of Mega Motor with a three-month maturity were sold out.