Iran Weekly Market Report - 31 December 2015:
"The Tehran Stock Exchange experienced positive returns after six consecutive weeks of declines. The TSE All-Share Index gained 0.4% this week, to close at 61,691. The main index of the Tehran Stock Exchange had started the week slightly in the red and had moved flatly on Sunday and Monday’s trading sessions. However, after the public holiday on Tuesday, the market grew by a larger scale on Wednesday. Banks had a remarkable positive effect on the TEDPIX’s performance on Wednesday which caused the market benchmark to experience its highest daily gain since October 18, 2015 (221 points or 0.4%).
By Technical Analysis perspective, investors’ reactions to the support level have kept the All-Share Index higher than the 61,500 mark for now. However, the index is still below its 50 day EMA by almost 1% and needs more progress to find its way back towards constant growth. In this respect, the index needs higher levels of trade volume supporting its minor gain to be able to reach the 63,000 level once again.
Similarly, the index of the thirty largest companies by market capitalization, the TSE30 index, recorded a weekly gain of 0.5%. The index also recorded its highest daily growth since October 18, 2015 on Wednesday (0.6%), as it closed at 2,582.
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