TEHRAN - The Tehran Stock Exchange extended its rally into a second consecutive session on Sunday, with the benchmark index jumping more than 122,000 points amid strong buying demand and widespread buy queues.
The main index closed 122,277 points higher at 6.723 million, entering the 6.7-million-point range.
The advance followed another sharp rise in the previous session, when the benchmark gained more than 120,000 points, marking two consecutive days of strong gains.
Market data also pointed to broad-based demand, with a growing number of stocks trading higher and buy queues forming across the market.
The equal-weighted index rose alongside the benchmark, gaining around 32,000 points to 1.854 million.
The simultaneous rise in both indices suggests that the rally was not limited to large index-heavy companies and that a significant number of smaller and medium-sized stocks also attracted demand.
Trading value approached 47 trillion tomans, while the number of transactions exceeded one million, indicating increased market activity and liquidity.
FMLI, Fars, SHPNA, VPASAR, Taban, Shasta and TAPIco were among the stocks with the greatest impact on the benchmark index.
The presence of companies from the metals, petrochemical, refining, banking and investment sectors among the leading contributors also reflected the relatively broad nature of the buying wave.
Iran’s over-the-counter market, the Iran Fara Bourse, also moved higher. Its main index gained 894 points to reach 52,304, while more than 500,000 transactions were recorded.
Overall, Sunday’s session was among the most demand-driven trading days in recent weeks, with the benchmark breaking above the psychological 6.7-million-point level, the equal-weighted index posting a sizeable gain and trading value rising sharply.
The continuation of the rally in the coming sessions, however, will depend on sustained liquidity inflows, continued buying demand and the market’s ability to overcome new resistance levels. Two consecutive sessions of strong gains alone do not guarantee that the upward trend will persist.