TEDPIX Hits 45-Month High

Tehran Stock Exchange’s main index jumped 497.90 points or 0.59% to end Monday trade at its 45-month high of 84,414.5.

The index’s escalating upward motion initiated at 9 a.m. It only started slowing down for about an hour at 10 a.m. and then went on to record a sharp 158.4 rise until it was stopped by the market closing at noon.

TEDPIX had gained steadily for the past two months to cross the tenacious February 1, 2014, level of 84,164.7. It had previously crossed its 42-month high on August 2.

About 473 million shares valued at $27.64 million changed hands for the day.

Trading at TSE and Iran Fara Bourse starts on Saturday and ends on Wednesday.

The privately-owned Internet service provider HiWeb was the biggest riser, going up 5% to 3,298 rials per share.

The company had its initial public offering on the equity market last Wednesday, as 10% of its shares were offered to the public. Over 400 million shares in the company were floated at a price range of 2,715 to 2,850 rials per share to make HiWeb the 515th company listed on Tehran Stock Exchange.

At the end of Wednesday trading, the price of each share of “HWEB” was discovered at 2,850 rials. This was the fifth IPO of this fiscal year (started March 21), following Chador Sazan Company, Parsian Kowsar Hotel, MobinOne Kish and Behpardakht Mellat.

Shirin Khorasan Company incurred the biggest loss among all TSE-listed companies, as it went down 4.58% to 21,047 rials per share.

Mobarakeh Steel Company gave the biggest boost to the benchmark, followed by Pardis Petrochemical Company and National Iranian Copper Industries Company.

Asan Pardakht Persian weighed the most on TEDPIX, followed by Informatics Services Company and Persian Gulf Petrochemical Industries.

The Price Index added 161 points or 0.59% to close at 27,310.5.

The First Market Index gained 381.10 points or 0.65% to post 58,673.3.

The Second Market Index gathered 912.70 points or 0.49% to reach 186,571.7.

The Industry Index rose by 497.30 points or 0.68% to register 73,442.4.

The Free Float Index won 568.23 points or 0.62% to hit 92,011.20.

The TSE 30 jumped 30 points or 0.88% to settle at 3,434.9 while the TSE 50 scored 18.30 points or 0.55% to finish at 3,332.5.

> IFX Up 0.33%

Iran Fara Bourse’s main index IFX gained 3.12 points or 0.33% to close Monday trade at 952.

Close to 169.2 million securities valued at $62.27 million were traded at the over-the-counter exchange for the day.

Esfahan Steel Company witnessed the highest number of traded shares, as 35.45 million of its shares changed hands.

Zagros Petrochemical Company had the highest trade value, with the value of shares worth $952,413 were traded.

Marjankar Company, Pakdis and Ghasem Iran Distribution Company registered the highest value increase.

A.S.P. Company, Shahed Construction and Development and Mihan Insurance suffered the biggest decline.

Esfahan Steel Company, Middle East Mines and Mineral Industries Development Holding Company and Sarcheshmeh Copper Investment Company had the most positive impact on the IFB benchmark.