Economy, Business And Markets

TEDPIX Maintains Uptrend

TEDPIX Maintains UptrendTEDPIX Maintains Uptrend

Tehran Stock Exchange’s main index TEDPIX gained 120.40 points or 0.16% to close Wednesday trade at 76,413.3. Oil, steel and copper companies as well as banks were the main driving force behind the benchmark’s growth.

Close to 1 billion shares valued at $69.3 million changed hands for the day, which shows a slight increase compared to Tuesday.

Tidewater Middle East Company was the market leader as its shares rose 5% to 4,309 rials each, followed by Machine Sazi Arak Company and Pars Refractories Company.

Iran Electricity Meter Manufacturing Company incurred the biggest losses, as it dropped 5% to 51,580 rials per share. Saipa Azin and Glucosan Company followed.

Mobarakeh Steel Company provided the biggest boost to the benchmark, as it gained 1.86% to reach 1,315 rials per share. Esfahan Oil Refining Company, National Iranian Copper Industries Company and Bank Tejarat came next.

Tamin Oil, Gas and Petrochemical Investment Company weighed most on TEDPIX, losing 2.12% of its share value down to 2,173 rials each, followed by Persian Gulf Petrochemical Industries Company and Bank Mellat.

The Price Index inched up 45.50 points or 0.16% to end at 28,744.7

The First Market Index gained 159.10 points or 0.30% to reach 53,464.8.

The Second Market Index shed 182.20 points or 0.11% to settle at 167,123.8.

The Industry Index was up 92.80 points or 0.15% to record 63,796.5.

The Free Float Index scored 302.87 points or 0.36% to hit 84,927.90.

The TSE 30 Index rose 10.70 points or 0.34% to post 3,138.2 while the TSE 50 Index inched up 2.80 points or 0.09% to finish at 3,059.1.

  IFX Jumps 1.7%

Iran Fara Bourse’s primary index IFX jumped 13.72 points or 1.7% to close at 818.5.

According to IFB data, close to 340 million securities valued at $44.1 million were traded in 26,000 transactions, almost the same as Tuesday.

Esfahan Steel Company posted the highest number of traded shares and daily trade value, as 4.9 million of its shares worth $3.6 million changed hands.

Middle East Mines and Mineral Industries Development Holding Company, Shiraz Oil Refining Company and Tabas Coal Company registered the highest increase in share value. Saman Insurance, Ghasem Distribution Company and Iran Reinsurance Company saw the highest declines.

Tehran Housing Investment Company, Lavan Oil Refining Company and Iran Cultural Heritage and Tourism Investment Group were on investors’ radar.

Etemad Fund recorded the highest trade volume among exchange-traded funds with the transaction of 5.8 million shares. Furthermore, 313,320 leasing bonds of RighTel with a three-month maturity were sold out.