Stocks in Tehran extend gains

Financial Tribune – The main gauge of Tehran Stock Exchange gained more than 4,000 points on Sunday to claw back to the seven-week high of 318,000 points for the day, marking the biggest rally since the beginning of last calendar month (Oct. 23).

TSE hit its tenth consecutive rally on Sunday, rising 1.3% amid optimism that economic variables, such as currency rates, price of energy carriers and tax rules, envisioned in the next fiscal budget (March 2020-21) will have a positive impact on shares.

Remarkable performance of SME stocks pushed the equal-weighted index higher by 1.8%. The index gives the same importance to each stock and the smallest companies enjoy equal weight as the largest ones.