TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), rose 23,000 points in the past Iranian calendar week.The index closed at 1.305 million points on Wednesday (the last working day of the week).
During the past week, the indices of Civil Servants Pension Fund (CSPF), Social Security Investment Company, Isfahan Oil Refining Company, Mobarakeh Steel Company, and Barekat Pharmaceutical Group were the most widely followed indices.
Iranian stock market is expected to follow an upward trend as the country’s foreign currency exchange market has become more stabilized over the past few months, according to stock market analyst Azim Sabet.
“As one of the important factors in the market, [foreign] exchange rates have reached a stage of stability; therefore, one can expect a reasonable upward trend in the market,” Sabet has told IRNA.
He pointed to the effective measures taken for improving the current trend of stock exchange transactions and added: “One of the significant issues regarding the stock market’s current trading environment is the management of fluctuations in the market.”
The expert stressed that people should not expect the stock market to always follow an upward trend, saying: “Sometimes companies report on their performance and activities in a certain period of time and shareholders must use that information to make decisions based on the value of the companies.”
Exchange transactions can take a reasonable course if the macroeconomics of the country is managed and no sudden changes are made, he said.
Unprecedented fluctuations in the Iranian stock market over the past few months have led shareholders, experts, and scholars to call for the government to increase its support for the market.
Following the supportive measures taken by the government, the market has been gradually getting back on track and experts believe that the market is regaining people’s trust.
Original News : https://www.tehrantimes.com/news/463152/TSE-s-main-index-rises-23-000-points-in-a-week