Tehran stocks maintained their upside direction seen in previous sessions to gain another 66,000 points on Wednesday closing trading week 4.3% higher.
At the close of the trading session the Tehran Stock Exchange benchmark, TEDPIX, stood at 1,612,882.
The market continued to rally as demand remained high for commodity stocks. Market reports show that investors were more interested in refining, petrochemical, base metal and mineral companies.
Other large-cap stocks such as banks, auto and investment companies were also on the tempting list.
However, equal–weighted index closed lower than TEDPIX at 2.9% due to sell-off in some small-cap shares. The index gives the same weight to all shares irrespective of their market capitalization.
The steep rise in stock market indicators is attributed to pressures of fresh liquidity flowing into the market and inflation expectation among investors due to the chaotic currency market.
About 9.88 billion shares valued at 148.56 trillion rials ($773.52 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Industry and Trade Development Investment Company was the biggest winner as its shares went up 32.14% to 15,130 rials per share. Behnoush Iran Company incurred the biggest loss among all TSE-listed companies and went down 5% to 131,720 rials per share.
TSE contributed the most to the benchmark's fall, followed by Barez Industrial Group Company (tire company), Iranian Aluminium Company and Kar Afarin Bank.
Chadormalu Mining and Industrial Company gave the biggest boost to the benchmark, followed by Persian Gulf Petrochemical Industries Company, Mobarakeh Steel Company and National Iranian Copper Industries Company.
IFX Up 2.93%
Iran Fara Bourse main index, IFX, gained 483.22 points, or 2.93%, to close Wednesday trade at 17,000.09.
About 2.52 billion securities valued at 54.59 trillion rials ($284.33 million) were traded at the over-the-counter exchange for the day.
Taliseh Nemooneh Dairy Farm Company, Vitana Company, Iran Office Machines Industries Company and Sabzevar Lar Cement Company had the most negative impact on IFX.
Gohar Zamin Iron Ore Company gave the biggest boost to IFX, followed by Marun Petrochemical Company, Middle East Mines and Mineral Industries Development Holding Company and Saba Tamin Investment Company.
