TEDPIX climbs 14,500 points on Sunday

July 11, 2021 - 13:55

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), rose 14.538 points to 1.285 million on Sunday.

As reported, over 7.422 billion securities worth 53.914 trillion rials (about $1.283 billion) were traded at the TSE on Sunday.

The first market’s index rose 15,060 points, and the second market’s index gained 14,478 points.

TEDPIX rose 43,000 points in the past Iranian calendar week.

The index closed at 1.282 million points on Wednesday (the last working day of the week).

During the past week, the indices of Civil Servants Pension Fund (CSPF), Social Security Investment Company, Isfahan Oil Refining Company, Mobarakeh Steel Company, and Barekat Pharmaceutical Group were the most widely followed indices.

Iranian stock market is expected to follow an upward trend as the country’s foreign currency exchange market has become more stabilized over the past few months, according to stock market analyst Azim Sabet.

“As one of the important factors in the market, [foreign] exchange rates have reached a stage of stability; therefore, one can expect a reasonable upward trend in the market,” Sabet told IRNA on Saturday.

He pointed to the effective measures taken for improving the current trend of stock exchange transactions and added: “One of the significant issues regarding the stock market’s current trading environment is the management of fluctuations in the market.”

The expert stressed that people should not expect the stock market to always follow an upward trend, saying: "Sometimes companies report on their performance and activities in a certain period of time and shareholders must use that information to make decisions based on the value of the companies."

Exchange transactions can take a reasonable course if the macroeconomics of the country is managed and no sudden changes are made, he said.

MA/MA

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