Growth returns to stock market

April 13, 2021 - 15:0

TEHRAN- After several days of drops, TEDPIX, the main index of Tehran Stock Exchange (TSE), climbed on Tuesday.

The index rose 18,457 points to 1.244 million, as 6.973 billion securities worth 51.605 trillion rials (about $1.228 billion) were traded at the TSE.

The first market’s index rose 15,343 points, and the second market’s index went up 30,980 points.

TEDPIX had risen eight percent in the last week of the past Iranian calendar year (ended on March 20).

The index increased 101,000 points to 1.307 million in that week.

Market analysts and experts suggest investors to focus more on long-term investment in the Iranian stock market and to invest through intermediary tools like exchange-traded funds (ETFs) to prevent possible losses in the current Iranian calendar year (began on March 21).

They also advise shareholders to avoid impulsive decisions for quitting the market rattled by the surprising fluctuations in the stock market in the previous year.

In this regard, Vice Chairman of the Board of Directors at Tehran Stock Exchange Javad Eshqi-Nejad said the “exit strategy” is the worse course of action that a shareholder can take.

“For some hasty shareholders, exiting the market is their first choice after any fluctuation, while we have repeatedly stated that this is the worst type of strategy in this market,” Eshqi-Nejad told IRNA.

MA/MA

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