After a weeklong bear market, Tehran stocks opened trading week Saturday on a strong note buoyed by reports that the government seeks to initiate a new support program.
The benchmark of Tehran Stock Exchange, TEDPIX, gained 12,336.20 points or 0.95% for the day to claw back the critical 1.3 million point and end trade at 1,305,574.
In the morning session stakeholders and other players in the bourse seemed a bit exuberant following statements by the head of the Securities and Exchange Organization, Majid Eshqi, who spoke about a new support package to lift the long sagging share market.
Prices of 314 tickers rose on Saturday, representing 63% of the total tickers, with mineral, metal, auto and financial intermediary stocks in the lead.
Retail trade surged 7% on the previous session to reach 26.06 trillion rials ($90 million), accounting for 59% of the total trade. Almost 5.55 billion shares worth 31.81 trillion rials ($112m) changed hands at TSE for the day.
Butane Industrial Group Company was the biggest winner as its shares went up 5% to 41,390 rials per share. Piazar Agro Industrial Company incurred the biggest loss among all TSE-listed companies and went down 4.99% to 36,520 rials per share.
Fanavaran Petrochemical Company contributed the most to the benchmark's fall, followed by Tamin Pharmaceutical Investment Company, Pars Petrochemical Company and Behnoush Iran Company.
Pardis Petrochemical Company gave the biggest boost to the benchmark index followed by Parsian Oil and Gas Development Group Company, Golgohar Mining and Industrial Company and Iran Khodro Company.
IFB Flat
Iran Fara Bourse’s main index, IFX, ended slightly above the flatline, gaining 15.77 points or 0.08% to close Saturday trade at 18,586.42.
About 1.94 billion shares and securities valued at 19.19 trillion rials ($68.5m) were traded at the junior exchange for the day.
The biggest loser at the IFB was the Minoo Industrial Group with 8.9% fall in share price to reach 20,188 rials per share.
This group, Damavand Power Generation Company, Ghadir Capital and Industry Development Company and Negin Software Systems Development Company had the most negative impact on IFX.
Shahid Tondgooyan Petrochemical Company gave the biggest boost to IFX, followed by Iran Fara Bourse, Arya Sasol Polymer Company and Iran Cultural Heritage and Tourism Investment Group Company.
