Stocks swept almost all the stocks at Tehran Stock Exchange and the junior equity market aka Iran Fara Bourse on Saturday.
The market-cap weighted TSE benchmark, TEDPIX, climbed 3.58% and gained an unprecedented 23,142 points to finish trade at 668,905.6.
The same percentage was recorded for the equal-weighted index to show that the rally was led by both small and large cap companies.
More than 90% of the shares touched the highest daily prices and 303 ticker symbols (out of a total of 305) closed in positive territory on Saturday, according to Donyaye Bourse website.
While the value of retail trade amounted to 48.8 trillion rials, purchase orders worth 45.5 trillion rials ($312 million) remained unprocessed because shareholders largely refused to sell.
The newly-listed Social Security Investment Company (Shasta) was the most demanded stock as investors placed buy orders for 2.2 billion shares of the giant investment company valued near 20 trillion rials.
As Iran’s largest holding company, Shasta went public on Wednesday and sold 10% of its shares worth 68.8 trillion rials ($441 million).
Consecutive rallies have turned the stock market into an attractive investment venue. The trend is boosted by reports that the government will support the bourse as it wants to sell its stakes in several state-affiliated companies in the near future.
Market Performance
About 5.77 billion shares valued at 61.6 trillion rials ($400 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Mashhad Wheel Manufacturer Company was the biggest winner as its shares went up 10.15% to 33,509 rials per share.
Shahdiran Company incurred the biggest loss among all TSE-listed companies and went down 0.63% to 66,304 rials per share.
Shahdiran Company was the sole company that contributed to the benchmark's fall.
Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by National Iranian Copper Industries Company, MAPNA Group and Golagohar Mining and Industrial Company.
IFX Up 3.12%
Iran Fara Bourse main index, IFX, gained 254.99 points, or 3.12%, to close Saturday trade at 8,438.55.
About 1.77 billion securities valued at 29.07 trillion rials ($188.8 million) were traded at the over-the-counter exchange for the day.
General Mechanic Company was the only company that impacted IFX negatively.
Esfahan Steel Company gave the biggest boost to IFX, followed by Shahid Tondgooyan Petrochemical Company, Zagros Petrochemical Company and Hormozgan Steel Company.
Caption: The market-cap weighted TSE benchmark, TEDPIX, climbed 3.58% and gained an unprecedented 23,142 points.
