Tehran Stock Exchange Surges in Final Trading Day of Week; Index Tops 6.3 Million Points
Tehran - BORNA - The rally was accompanied by a 37,000-point rise in the equal-weighted index and a trading value of 31 trillion rials, indicating that the wave of demand was not confined to a handful of large-cap stocks but swept across a significant portion of the market.
TEDPIX climbed 162,697 points, or approximately 2.6 percent, to stand at 6,386,000 points, setting a new all-time high.
The surge came as the market has repeatedly broken its historical records in recent weeks, while also experiencing periods of increased supply and profit-taking.
Wednesday's rally demonstrated that buying pressure currently outweighs selling pressure—a trend visible in the simultaneous rise of both the main index and the equal-weighted index.
A look at the stocks driving the index shows that the bulk of the growth came from market heavyweights. Mobarakeh Steel Company (Foolad), National Iranian Copper Industries (Famelli), Persian Gulf Petrochemical Industries (Faras), Shazand Petrochemical (Shepna), Tabriz Oil Refining (Shebandar), Bank Mellat (Vebmelat), and Social Security Investment Company (Shasta) topped the list of index-influencing symbols in Wednesday's trading.
Meanwhile, the equal-weighted index gained 37,637 points to reach 1,802,000 points. The more than two percent rise in the equal-weighted index alongside the main index surge was one of the notable features of Wednesday's session.
The equal-weighted index assigns equal weight to all listed companies, making its growth a sign of broader participation by small- and mid-cap stocks in the market's upward trend.
Iran Fara Bourse Also in Positive Territory
The upward momentum extended to the over-the-counter Iran Fara Bourse. The IFB's main index rose 969 points to reach 50,679 points, with 638,255 trades recorded during the session.
Gohar Zamin Iron Ore (Kegohar), Arian, Aria, MAPNA Power (Vempna), Saman, Fazar, and Sherafuel were the top contributors to the Fara Bourse index.
Overall, the alignment of the Tehran Stock Exchange and the Fara Bourse indicates that the demand wave was not limited to the main market and flowed through a substantial part of the capital market.
Has the Market Entered a New Phase?
The 162,000-point surge can be examined from two perspectives. On one hand, setting a new record and breaking through previous thresholds sends a positive signal to traders and could reinforce bullish expectations. On the other hand, rapid gains typically increase the likelihood of profit-taking and higher supply in subsequent sessions.
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