TEDPIX rises 8% in a week

July 10, 2020 - 13:20

TEHRAN- TEDPIX, the main index of the Tehran Stock Exchange (TSE), went up eight percent during the past Iranian calendar week (ended on Friday).

The index gained 141,000 points to 1.753 in the previous week, IRNA reported.

On June 30, TEDPIX hit the record high of 1.5 million points.

It has also climbed 28.77 percent in the past Iranian calendar month (April 21-June 20) from its preceding month.

The index gained 283,868 points to 1,270,627 during the past month.

Although, the value of trades at the TSE, which is Iran’s major stock exchange, fell 31 percent in the past month.

While the past Iranian calendar year (ended on March 19) was full of success for the TSE, the market is also preserving its successful performance in the current year, and the noticeable point in this due is that the other economic sectors are experiencing some declining trend due to the coronavirus pandemic.

We have been witnessing new record highs continuously posted by the exchange since the year start, and climbing to the peak of one million points, something almost unbelievable just some time ago, came true in early May.

In a press conference on June 22, the head of Iran’s Securities and Exchange Organization (SEO) announced that the amount of liquidity absorbed by Iran’s capital market has reached 500 trillion rials (about $12 billion) during the first quarter of the current Iranian calendar year (March 20-June 20).

Hasan Qalibaf-Asl also said, “It is while the total amount of liquidity entered into this market stood at 300 trillion rials (about $7.14 billion) during the past year.”

The official further noted that the high amount of liquidity that is entering the capital market has provided some good opportunity for this market, as it’s being developed and flourished, for the enterprises, as they’re securing their required funds, and also for the government.

Mentioning the prosperous status of the capital market in the present year, Qalibaf-Asl underlined that the current status of this market is not at all comparable with that of the past three years and even the previous year.

He put the amount of financing through the capital market at 2.6 quadrillion rials (about $61.9 billion) in the past Iranian calendar year 1398 and said the figure was one quadrillion rials (about $23.8 billion) just in the first quarter of the present year.  Financing through this market stood at 1.2 quadrillion rials (about $28.5 billion) in the calendar year 1397.

MA/MA

Leave a Comment

6 + 2 =