TSE’s main index rises 3.6% in a week

October 1, 2021 - 15:5

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), rose 3.6 percent in the past Iranian calendar week.

The index closed at 1.437 million points on Wednesday (the last working day of the week).

During the past week, the indices of Social Security Investment Company, Bandar Abbas Refinery, National Iranian Copper Industries Company, Sepid Makian Company, and Barekat Pharmaceutical Group were the most widely followed ones.

A capital market analyst has said the trades at the Tehran Stock Exchange are going to follow an upward trend in the remaining months of the current Iranian calendar year (ends in March 2022).

“Based on the forecasts, it seems that the stock market trading will experience a positive trend and be upward by the end of this year due to the current inflation in the country's economy,” Soheil Kolahchi has told IRNA.

It’s over two years that stock market in Iran has been playing an outstanding role in the attraction of the people’s investment.

Iranian people, who used to invest their money in some traditional ways such as buying gold, or deposit money in the banks, have taken a new approach for investment over the past two years, as they have been investing more and more in the stock market.

The rising number of new shareholders in Tehran Stock Exchange (TSE), which is Iran’s major stock exchange, is an indication of this new approach.

Different factors have created such condition, among them it could be referred to the efforts made by the stock market to attract people’s more investment through laying the proper ground, for example via introducing new financial instruments, and also by making people more acquainted with this market.

The other factor is the government’s policy and new approach toward the stock market, and putting emphasis on this market’s role in funding and economic growth.

The status of the parallel markets such as forex, housing, and gold markets has also made stock market a more attractive place for the people to invest in.

Meanwhile, the government’s policy of lowering the interest rate of the bank deposits has redirected a huge amount of people’s investment to the stock market.

MA/MA

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