TEDPIX gains 562 points in a week

September 1, 2018

TEHRAN- Tehran Stock Exchange (TSE)’s main index (TEDPIX) increased 562 points or 0.4 percent during the five dealing days (Saturday-Wednesday) of the past Iranian week ended on Friday, Tasnim news agency reported.

As reported, some 11.648 billion securities worth 34.976 trillion rials (about $832.7 million) were traded through 750,000 deals in TSE, indicating 24 percent fall in the number and 60 percent rise in the value of securities and 4 percent increase in the number of deals.

The first market’s index rose 487 points to 101,291 and second market’s index added 766 points to 273,726 showing 0.5 percent and 0.28 percent growth, respectively, in the mentioned week.

TEDPIX has risen 35.5 percent since the beginning of current Iranian calendar year (March 21, 2018), Tasnim reported last week.

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.

Rise in stock exchange indexes was anticipated given the issues related to the political and economic status of the country at the time, but a 2,767-point growth in a single day was beyond the expectations.

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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