TEDPIX hits record high of 1.9m points

July 20, 2020 - 14:25

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), hit a new record high on Monday, as it exceeded 1.9 million points.

As reported by IRNA, the index gained 46,814 points to 1.911 million during the Monday trades.

Mobarakeh Steel Company, Persian Gulf Petrochemical Industries Company, Tamin Petroleum & Petrochemical Investment Company (TOPPICO), Gol Gohar Mining and Industrial Company, and Parsian Oil and Gas Development Group Company (POGDC) were the major contributors to the jump of TEDPIX in a single day.

The index had hit the record high of 1.5 million points on June 30.

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.

MA/MA

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