TEDPIX rises 9,500 points on Wednesday

October 27, 2021 - 15:25

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), gained 9,500 points to 1.393 million on Wednesday.

As reported, over 4.949 billion securities worth 37.177 trillion rials (about $885 million) were traded at the TSE.

The first market’s index rose 10,725 points, and the second market’s index gained 7,279 points.

TEDPIX rose 2.7 percent in the past Iranian calendar week (ended on Friday).

The index gained 39,000 points to 1.436 million in the past week.

During the past week, the indices of Social Security Investment Company, Bandar Abbas Refinery, Isfahan Refining Company, National Iranian Copper Industries Company, Iran Mercantile Exchange, and Sabzevar Pars Steel Complex were the most widely followed ones.

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.

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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