Economy, Business And Markets

Stocks Post Feeble Gains

Stocks Post Feeble GainsStocks Post Feeble Gains

Tehran Stock Exchange’s main index gained 165.60 points or 0.22% to close Monday trade at 76,613.9. Large-cap auto companies, banks and oil refineries were the main driving force behind TEDPIX’s growth.

Close to 1.2 billion shares valued at $70.8 million changed hands. The number of shares traded and daily trade value nearly doubled compared to the prior trading day.

Sazeh Pouyesh Company posted the biggest gains, rising 5% to 29,720 rials per share. It was closely followed by Iran Electricity Meter Manufacturing Company and Pars Refractories Company.

Zahravi Pharmaceutical Company was the worst performer as its shares went down 4.92% to 20,390 rials each. Shahed Investment Company and Pump Iran Company followed.

IKCO, Iran’s largest auto manufacturer, gave the biggest boost to the benchmark with its shares rising 3.96% to 3,755 rials each, followed by Bank Pasargad and Bank Mellat.

MAPNA Group weighed most on TEDPIX, going down 1.16% to 9,100 rials per share. Golgohar Mining and Industrial Company and Esfahan Oil Refining Company followed.

The Price Index gained 61.40 points or 0.22% to post 28,410.1. The First Market Index was up 174 points or 0.33% to reach 53,692.9. The Second Market Index added 23.20 points or 0.01% to settle at 167,049.2. The Industry Index inched up 25.40 points or 0.04% to register 63,842.9. The Free Float Index advanced 498.07 points or 0.59% to hit 85,594.90. The TSE 30 Index rose by 17.40 points or 0.55% to record 3,145.4 while the TSE 50 Index scored 6.90 points or 0.23% to finish at 3,065.6.

  IFX Up 0.19%

Iran Fara Bourse’s primary index gained 1.56 points or 0.19% to settle at 813.97.

About 240 million securities valued at $40.8 million were traded, with daily trade value rising by over $20 million compared to the prior trading day.

Tehran Oil Refining Company, Arfa Steel and Bank Day provided the biggest boost to IFX.

Esfahan Steel Company registered the highest number of traded shares and highest daily trade value, as 24 million of its shares worth $2.2 million were transacted.

Arfa Steel Company, Mihan Insurance and Bank Sarmayeh had the highest increase in share value. Pasargad Insurance, Tuka Paint Company and Zangan Zinc Company experienced the biggest declines.

Furthermore, 428,000 participation bonds of Middle East Mines and Mineral Industries Development Holding Company valued at $12.2 million were sold out.