May 28, 2024

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More gains for stock market

TEHRAN- Past Iranian calendar year (ended on March 19) witnessed a very fruitful performance for the country’s stock market.

And as TSE Head Ali Sahraei has announced, the value of trades at the Tehran Stock Exchange jumped 2.6 folds, while Return on Investment (ROI) reached 180 percent in the previous year.

TSE is one of the four major stock exchanges of Iran, the other three exchanges are Iran’s over-the-counter (OTC) market known as Iran Fara Bourse (IFB), Iran Mercantile Exchange (IME), and Iran Energy Exchange (IRENEX). The lucrative status was also witnessed in these markets in the past year.

While growth and development in the Iranian stock market have been started in recent years, the previous year was in fact a time of flourishment for the country’s stock exchanges.

Different factors contribute to the past year’s prominent success in the stock market.

One important factor was proper ground laid in the stock market and providing better conditions for traders.

The other factor was the status of parallel markets, such as those of foreign currency, gold coin, and housing in the past year that made making investment in the stock market an obviously better and more profitable choice for the investors.

And now despite the economic condition created by the coronavirus outbreak, the Iranian stock market is experiencing more growth in the current Iranian year, which began on March 20.

On Saturday, TEDPIX hit the record high of 600,000 points, as it gained 10,803 points to 608,000. Some 6.663 billion securities worth 57.27 trillion rials (about $1.36 billion) were traded through 37,000 deals at TSE.

The index also climbed on Sunday, it gained 15,422 points to 623,278, as 7.445 securities valued at 63.726 trillion rials (about $1.5 billion) were traded.
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