The Iran Project

Tehran stocks enjoy strong start

File photo of Tehran Stock Exchange.

Financial Tribune – The main gauge of Tehran Stock Exchange climbed more than 1% on Saturday to register its biggest rally in a month (since Oct. 30). TEDPIX gained 3,357 points to close trading at 314,587.8.

Bullish trends in parallel markets plus optimism among investors regarding key economic variables in the next fiscal budget (March 2020-21) are seen as the main driving forces behind the upside.

Out of a total of 320 symbol tickers 257 ended trade in the green on the first trading day (Saturday) of the week, representing more than 80% of the stocks.

Big listed companies in the communication, bank, metal and petrochemical sectors made the greatest impact on the benchmark growth while refinery stocks performed poorly.

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