Iran stock indexes are approaching historic highs. As of closing of trading on Wednesday, Tehran Stock Exchange's main gauge TEDPIX was up 1.87%. Iran Fara Bourse’s main index IFX had jumped 40.21 points or 1.65% to close the trading week at 2,470.26.
As reported by Donyaye Bourse analytical website, a surge of new money by retail investors is lifting stocks like never before. The main index is only one step away to once again clinch its historic high of 194,000 points.
Metal companies were a major factor behind the market activity on Wednesday as metals are also experiencing boom days on the Iran Mercantile Exchange as well.
This is while the gold and forex markets began a downward trend. The US dollar was on course to fall below the 140,000 rial point and the benchmark Bahar Azadai gold coin lost 2.26% to fetch 48.7 million rials.
World stocks inched up on Wednesday but were still below the six-month high they reached earlier this week as the prospect of the European Central Bank issuing fresh multi-year loans to banks helped offset concerns about US President Donald Trump threatening more tariffs against the European Union.
The ECB is expected to keep borrowing costs on hold but investors will focus on whether the region’s central bank provides some supportive policy when it meets later on Wednesday.
Indexes Rally
Tehran Stock Exchange main index TEDPIX gained 3,553.36 points or 1.87% on Wednesday to end trading at 193,978.5.
About .57 billion shares valued at 12.78 trillion rials ($91.28 million) changed hands at TSE for the day.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends Wednesday.
Abadan Petrochemical Company was the biggest winner as its shares went up 43.6% to 1,268 rials per share.
Persian Gulf International Transportation Company incurred the biggest loss among all TSE-listed companies and went down 4.66% to 2,271 rials per share.
Mobarakeh Steel Company and National Iranian Copper Industries Company gave the biggest boost to the benchmark index, followed by Khuzestan Steel Company and Telecommunication Company of Iran.
Behpardakht Mellat Company (a payment services firm) contributed the most to the benchmark's fall, followed by Persian Gulf International Transportation Company and Iran Transfo Industrial Group.
The Price Index gained 1,024.77 points to close at 55,940.7. First Market Index was up 2,746.05 points to post 144,568.1.
The Second Market Index increased by 6,474.86 points to reach 378,399.9. The Industry Index went up by 3,231.12 points to register 174,745.1.
The Free Float Index was up 4,893.53 points to register 219,240.15. TSE 30 went up 204.28 points to settle at 9,608.3 and the TSE 50 ended 138.67 points lower to finish at 8,222.6.
IFX Up 1.65%
Iran Fara Bourse’s main index IFX gained 40.21 points or 1.65% to close Wednesday trade at 2,470.26.
About 1.29 billion securities valued at $41.98 million were traded at the junior exchange for the day.
Mahan Poultry Farm and Taliseh Nemooneh Dairy Farm company registered the highest value increase.
Gohar Zamin Iron Ore Company, Middle East Mines & Mineral Industries Development Holding Company's (MIDHCO), and Isfahan Steel Company had the most positive impact on IFX.
