TSE’s main index goes up 4% in a week

July 17, 2020 - 11:39

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

Banks, car and car parts, base metals, chemicals, oil products, cement, insurance, foodstuff, and medicine groups were the main contributors to the TEDPIX’s weekly rise.

Nearly four million new trading accounts have been opened in Iran’s stock market since the beginning of the current Iranian calendar year (March 20), the managing director of Central Securities Depository of Iran (CSDI) announced on Monday.

Underlining that the stock market is being more and more welcomed in the present year, Hossein Fahimi said that the figure is really noticeable compared to the figures of the previous years.

In a press conference on June 20, Hassan Qalibaf-Asl, the head of Iran’s Securities and Exchange Organization (SEO), had announced that the number of trading accounts opened in the stock market in the past year was 820,000.

It should be noted that in late February, SEO set new regulations for the opening of trading accounts for the new shareholders in the country’s stock market.

Based on an announcement by the SEO, the new applicants can conduct trade one month after opening their trading accounts and they are required to pass an exam given by Securities and Exchange Brokers Association (SEBA) or SEO during the one-month time, while they are also committed to avoiding signal selling and some other actions, and if they do so, their accounts will be blocked.

As decided by SEBA, the applicants are required to take the mentioned exam in person or virtually, and it is in line with elevating the knowledge of shareholders.

MA/MA

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