TEDPIX gains 60,000 points in a week

July 24, 2020 - 10:46

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), increased 60,000 points, or three percent, during the past Iranian calendar week (ended on Friday).

As reported by IRNA, the index stood at 1.901 million points in the previous week.

The indices of Bank Mellat, National Iranian Copper Company, Iran Khodro Investment Company, Ghadir Investment Company, Mobarakeh Steel Company, and Tehran Refinery were the major contributors to the weekly rise of TEDPIX.

On Tuesday, a capital market expert said that TEDPIX is expected to climb to 2.5 million-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.

MA/MA

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