Stock market deals value rises 40% in a month

August 4, 2018 - 9:33

TEHRAN- The value of deals in Iran’s stock market during the past Iranian calendar month Tir (June 22-July 22) rose 40 percent to stand at 96.86 trillion rials (about $2.176 billion), Tasnim news agency reported.

As reported, the number of traded shares also increase 34 percent to 33.472 billion and the number of deals rose 24 percent to 2.125 million during the mentioned month.

Tehran Stock Exchange (TSE)’s main index (TEDPIX) gained 2,777 points to 123,000 on Wednesday (the last working day of the previous Iranian calendar week).

As reported, 2.136 billion shares worth 7.42 trillion rials (about $166.7 million) were traded through 135,000 deals in the stock market.

In this way, TEDPIX hit a highest-ever record, lagging behind the record of 121,173 points which was achieved on Tuesday.

Fluctuations in foreign currency exchange rate, and the possibility of adding minerals and petrochemicals, the biggest sources of non-oil revenues, to the list of secondary market players are some factors leading to the stock index record of increase.

The rising trend of TEDPIX began on June 13, which was named ‘Golden Wednesday of Stock Market’, when TEDPIX gained 2,767 points to stand at 99.146 points.

Then on June 17, players in Iran’s capital market witnessed a historical record in growth of TEDPIX which gained 3,306 points to hit 102,452 points, something unprecedented in the 50-year history of the country’s stock market.

The experts of capital market say some factors such as turbulences in the markets of foreign currency, gold coin, and housing and also entrance of new liquidity were the main reasons for such unprecedented rise.

MA/MA

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