Tehran Stock Exchange overall index staged a sharp rally at the very beginning, however, banking and auto sectors weighed on TEDPIX performance to dissipate early gains.


 Tehran Stock Exchange overall index staged a sharp rally at the very beginning, however, banking and auto sectors weighed on TEDPIX performance to dissipate early gains.

According to TSE data, TEDPIX wrapped up Saturday trade in the green and edges up 56.5 points or 0.07% to end at 81,536.9.

Stocks in Tehran rose in the first trading week of the new Iranian year (started March 20) on optimism about dissipation of ambiguities and economic growth. TEDPIX leaped 1.5% to notch a fresh 26-month high.

The first market index picked up 21.4 points or 0.07% to close at 31,011.1. The first market index declined 176.4 points or 0.3% to settle at 57,749.9. The second market index gained 1,408.9 points or 0.82% to stand at 174,195.9. The free float index retreated 239.4 points or 0.25% to level at 93,908.3. The industry index was up 117.6 points or 0.17% to reach 67,706.4. The TSE 30 index was down 9.9 points or 0.29% to close at 3,440.5 and the TSE 50 index perked up 2.4 points or 0.07% to end at 3,313.2.

TSE recorded transaction of almost 1.2 billion shares valued at $91.4 million. Auto manufacturers registered the highest daily trade volume among listed companies at TSE. Saipa Investment Company witnessed transaction of more than 236 million followed by Iran Khodro and Saipa Group with 90.76 and 77.11 million shares respectively.

Most of listed companies fell short to end Saturday trade in green territory. 49% of listed companies weighed on benchmark with Mobarakeh Steel Company on top of them. MSC with 78.19 points negative contribution surpassed market laggards. Saipa Group and Mobile Telecommunication Company of Iran with 61.86 and 36.33 points stood next in line.

Islamic Republic of Iran Shipping Lines outperformed and with 103.3 points crowned TEDPIX’s positive contributors. Persian Gulf Petrochemical Industries Company and Tamin Petroleum and Petrochemical Investment Company with 101.93 and 62.48 points took the second and third places respectively.