TEDPIX may surpass 2.5m points by mid-September: expert

July 21, 2020 - 15:32

TEHRAN- A capital market expert says that TEDPIX, the main index of Tehran Stock Exchange (TSE), is expected to climb to 2.5 milion-2.7 million points by the end of Iran’s second quarter (September 21).

Referring to the new record registered by the index on Monday, Bahador Shams told IRNA that a noticeable amount of liquidity is leading to the stock market and many investors are seeking to make investment in this market.

There is a high demand in the market, he underscored.

TEDPIX hit a new record high on Monday, as it exceeded 1.9 million points.

The index gained 46,814 points to 1.911 million during the Monday trades.

It 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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