Tehran stocks pared losses in the early hours of trade on Monday to close near the flatline buoyed by demand for a handful of large caps.
The benchmark of Tehran Stock Exchange, TEDPIX, lost more than 2,000 points at the beginning of the session but closed 886 points or 0.07% lower, ending trade at 1,186,956.
The fragile recovery was due mainly to price rise in some large caps, especially metal companies, as shown in higher gain by the TSE-30 Index. The index climbed more than 0.3% on Monday. It tracks the performance of top 30 listed companies in terms of market cap.
The equal-weighted index was down 0.2%. It gives the same weight to all shares irrespective of their market cap. About 3.88 billion shares valued at 31.44 trillion rials ($131 million) changed hands at TSE for the day.
Nouri Petrochemical Company was the biggest winner as its shares went up 5.61% to 59,470 rials per share. Bahman Group Company incurred the biggest loss among all TSE-listed companies and went down 6.94% to 1,340 rials per share.
Golgohar Mining and Industrial Company contributed the most to the benchmark's fall, followed by Chadormalu Mining And Industrial Company, Esfahan Oil Refining Company and Persian Gulf Petrochemical Industries Company.
National Iranian Copper Industries Company gave the biggest boost to the benchmark index followed by Mobarakeh Steel Company, Social Security Investment Company and Nouri Petrochemical Company.
Iran Fara Bourse main index, IFX, also closed flat, gaining 7.29 points or 0.04% to end Monday trade at 17,604.19. About 609.69 million securities valued at 157.19 trillion rials ($628.76 million) were traded at the junior exchange for the day.
Marun Petrochemical Company, Esfahan Steel Company, Gohar Zamin Iron Ore Company and Arfa Iron and Steel Company had the most negative impact on IFX.
Arya Sasol Polymer Company gave the biggest boost to IFX, followed by Shahid Tondgooyan Petrochemical Company, Hormozgan Steel Company and Mehr Ayandegan Financial Development Group Company.
