Tehran stocks on course for fresh rallies

Financial Tribune – Leaving behind a brief correction phase in the previous session, Tehran stocks resumed a month-long bull market on Saturday with benchmark of Tehran Stock Exchange soaring more than 1.8%.

Out of 319 active companies listed on TSE, the symbol tickers of 282 companies were green for the day meaning that prices of 88% of stocks rose.

The gain for equal-weighted index, which gives the same weight to all stocks regardless of size and value, was higher at 2.5%, indicating a bigger contribution of small-cap companies to the Saturday’s rally.

Trade marked growth in indicators of all industries except for sugar, coal and printing groups. A total of 19 industry indicators experienced growth of above 2% for the day, according to stock market analytical website Donyaye Bourse.

The top-performers were cement, transportation, metals, tire, agriculture and ceramic stocks where prices soared more than 3%.