Tehran stocks rally ahead of half yearly reports

Financial Tribune – The main gauge of Tehran Stock Exchange nudged 1.4% higher on Sunday amid investors’ optimism on the eve of half yearly reports of companies.

The benchmark clawed back above historic point of 300,000 for the day, with the TEDPIX gaining more than 4,390 to stand at 302,103.

After a two-day hiatus in last trading week, the stock market has staged a new round of bull market since Saturday as investors expect improved performance for a wide range of listed companies, according to the Donyaye Bourse website.

The market featured rising demand for commodity stocks of petrochemical, refinery and metal companies, leading to stocks in this group to be traded at maximum prices.