Against expectorations that the stock market may take a breather at the weekend from non-stop rallies in recent days, Tehran Stock Exchange made one of its biggest leaps on Wednesday.
TSE benchmark climbed more than 1.8% as trade closed to stand above the psychological 380,000 points. The equal-weighted index, which gives the same weight to shares of all listed companies, jumped 1.27% for the day.
Tehran stocks have shown healthy signs over the past weeks thanks to the combination of fresh liquidity, lethargic parallel markets, positive financial reports and increasing number of new investors.
An official with the Securities and Exchange Organization said Monday that investors injected 1,290 trillion rials ($9.9 billion) in the TSE and over-the-counter Iran Fara Bourse since the beginning of current fiscal year (March 2019) up until December 21.
The TEDPIX has grown more than 115% since the beginning of current fiscal year (March 2019), according to Donyaye Bourse website. The growth was way higher for equal-weighted index at 269% indicating that investors were more interested in small-cap companies.
Market Performance
The TSE's main index TEDPIX gained 7,087.60 points, or 1.88% , on Wednesday to end trading at 384,099.6.
About 5.09 billion shares valued at 32.19 trillion rials ($248.56 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Noosh Mazandaran Company was the biggest winner as its shares went up 5 % to 71,361 rials per share.
Pars National Agriculture, Industry and Animal Husbandry Company incurred the biggest loss among all TSE-listed companies and went down 4.52% to 41,425 rials per share.
Iran Khodro Company (IKCO) contributed the most to the benchmark's fall, followed by SAIPA Investment Group Company, Bank Mellat and Pars Minoo Industrial Company.
Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by National Iranian Copper Industries Company, Bandar Abbas Oil Refining Company and Persian Gulf Petrochemical Industries Company.
The Price Index gained 1,897.07 points, or 1.88% to close at 102,770.1.
First Market Index increased 6,176.68 points, or 2.30% to post 275,186.7. Second Market Index increased by 9,805.44 points, or 1.24% to reach 799,013.4.
The Industry Index increased by 6,863.95 points or 2.03% to register 345,555.9. Free Float Index was up 7,976.89 points to hit 453,712.65.
TSE 30 gained 366.04 points to settle at 16,061.9 and the TSE 50 ended 307.03 points higher to finish at 14,612.5.
IFX Up 1.69%
Iran Fara Bourse main index IFX gained 83.82 points or 1.69% to close Wednesday trade at 5,030.77.
About 1.62 billion securities valued at 71.99 trillion rials ($555.94 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 554.58 million of its shares worth 1.24 trillion rials ($9.61 million) were traded.
Damavand Power Generation Company, Kowsar Insurance Company, Pasargad Oil Company and Kerman Development and Investment Company had the most negative impact on IFX.
Marun Petrochemical Company gave the biggest boost to IFX, followed by Zagros Petrochemical Company, Esfahan Steel Company and Iran Office Machines Industries Company.
