T ehran stocks opened trade on Monday on a strong note amid rising demand for blue chips before retreating as offers increased by jittery investors.

The main index of Tehran Stock Exchange, TEDPIX, gained  44,000 points in early trade but pared most of gains later and closed the session 9,169 points higher, gaining 0.53%.

Sell-side pressure swept through majority of small stocks,  pulling the equal-weighted index into negative territory. Equal-weighted index shed 4,445 points and dropped by 0.96 points.

Value of trade in both TSE and the junior equity market hit 360 trillion rials, comparably higher than the 156 trillion rials in the last session on Wednesday. Saturday and Sunday were public holidays.

About 15.63 billion shares valued at 242.13 trillion rials ($1.03 billion) changed hands at TSE for the day.

Ardakan Industrial Ceramics Company was the biggest winner as its shares went up 10.08% to 31,010 rials per share.

Kharazmi Investment Group Company incurred the biggest loss among all TSE-listed companies and went down 4.99% to 15,410 rials per share.

Social Security Investment Company contributed the most to the benchmark’s fall, followed by Telecommunication Company of Iran, Mobile Telecommunication Company of Iran and MAPNA Group.

Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, National Iranian Copper Industries Company and Esfahan Oil Refining Company.

The First Market Index gained 14,867.26 points, or 1.19% to post 1,267,585.14. The Second Market Index went down 14,603.71 points, or 0.42% to reach 3,475,766.56.

The Industry Index was up 9,104.26 points or 0.60% to register 1,522,445.3. Free Float Index was up 13,560.16 points to hit 2,348,701.23.

TSE 30 went up 1,823.41 points to settle at 89,243.78 and the TSE 50 ended 788.04 points higher to finish at 68,067.39.

IFX Flat

Iran Fara Bourse main index, IFX, closed on the flat-line and lost 2.18 points, or 0.01%, to finish Monday trade at 18,158.81.

About 2.88 billion securities valued at 65.58 trillion rials ($279.07 million) were traded at the junior equity exchange for the day.

Arya Sasol Polymer Company, Melal Credit Institution, Zagros Petrochemical Company and Shahid Tondgooyan Petrochemical Company had the most negative impact on IFX.

Marun Petrochemical Company gave the biggest boost to IFX, followed by Middle East Mines and Mineral Industries Development Holding Company, Pasargad Insurance Company and Gohar Zamin Iron Ore Company.