Tehran’s stock market gained some composure on Monday as sell-side pressure on a number of shares eased and sentiments were boosted by supportive measures.
The main index of Tehran Stock Exchange, TEDPIX, gained close to 30,000 points to add 1.86% and end trading at 1,607,587 points.
Despite solid gains for TEDPIX, which is heavily impacted by market capitalization of listed companies, the equal-weighted index closed on the flat-line. The latter gives the same weight to all shares irrespective of their size.
TEDPIX lost more than 25% during a deep downturn that started in early August, compelling market authorities to find ways out of the crisis.
The High Council of Securities and Exchange, the top policymaking body, on Thursday approved new supportive measures to boost demand by market makers and main shareholders.
In a latest development on Monday, the CEO of Securities and Exchange Organization Hassan Qalibaf-Asl announced a new supportive package for mineral and base metal listed companies.
The supportive measures include setting up a fund worth 300 trillion rials ($1.2 billion) to boost demand for shares of listed companies affiliated to the mineral companies affiliated to the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), the Securities and Exchange News Agency reported.
TSE Trade
About 7.81 billion shares valued at 97.45 trillion rials ($406.06 million) changed hands at TSE for the day.
Fanavaran Petrochemical Company was the biggest winner as its shares went up 5% to 280,480 rials per share.
Parsian Bank incurred the biggest loss among all TSE-listed companies and went down 8.65% to 5,280 rials per share.
Parsian Bank contributed the most to the benchmark's fall, followed by Islamic Republic of Iran Shipping Lines Company, Bahman Group Company and Pars Khodro Company.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, National Iranian Copper Industries Company and Golgohar Mining and Industrial Company.
The Price Index gained 7,684.79 points, or 1.86% to close at 421,602.38.
The First Market Index gained 27,058.87 points, or 2.33% to post 1,189,081.88. The Second Market Index went up 36,493.14 points, or 1.16% to reach 3,193,612.57.
The Industry Index was up 28,657.54 points or 2.06% to register 1,420,543.27 while the Free Float Index was up 34,538.74 points to hit 2,172,630.96.
TSE 30 went up 2,413.63 points to settle at 86,089.43 and the TSE 50 ended 1,481.67 points higher to finish at 64,160.69.
IFX Up 1.37%
Iran Fara Bourse main index IFX gained 230.45 points or 1.37% to close Monday trade at 17,013.53.
About 1.73 billion securities valued at 39.07 trillion rials ($162.82 million) were traded at the junior exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 300.18 million of its shares worth 1.94 trillion rials ($8.08 million) were traded.
Day Bank, Gilan Electric Power Development Company, Iran Office Machines Industries Company and Kowsar Insurance Company had the most negative impact on IFX.
Marun Petrochemical Company gave the biggest boost to IFX, followed by Arya Sasol Polymer Company, Gohar Zamin Iron Ore Company and Hormozgan Steel Company.
