TEDPIX gains 3,000 points in a week

July 31, 2020 - 11:50

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), increased just 3,000 points to 1.904 million during the past Iranian calendar week (ended on Friday), IRNA reported.

As reported, Bank Mellat, National Iranian Copper Industry Company, Iran Khodro Investment Development Company, Ghadir Investment Company, and Bank Saderat were the major contributors to the index’s rise in the previous week.

TEDPIX has gone up 147 percent during the first quarter of the current Iranian calendar year (March 20-June 20), compared to the first quarter of the previous year.

Last week, 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 July 20, 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 July 20, as it exceeded 1.9 million points. The index gained 46,814 points to 1.911 million during the daily 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