TEDPIX rises 7,800 points on Wednesday

March 16, 2022 - 14:23

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), rose 7,808 points to 1.345 million on Wednesday.

As reported, over 9.699 billion securities worth 101.842 trillion rials (about $391.7 million) were traded at the TSE.

The first market’s index rose 5,625 points, and the second market’s index gains 16,007 points.

TEDPIX rose 67,000 points (5.2 percent) to 1.348 million in the past Iranian calendar week (ended on Friday).

During the past week, the indices of Tehran Oil Refining Company, Mobarakeh Steel Company, Iran Khodro Company, Saipa Company, National Iranian Copper Company, Social Security Investment Company, and Isfahan Oil Refinery were the most widely followed ones.

The head of Iran's Securities and Exchange Organization (SEO) has said this year, the monthly sales of the shares of companies listed on the Tehran Stock Exchange has been very good and it is predicted that the growing trend of the exchanges will continue in the next Iranian calendar year (begins on March 21) as well.

“Considering the general provisions approved in next year's budget bill we expect that companies will have good capital increase and take positive development measures, and it will be easier for investors to make decisions,” Majid Eshqi told the press on March 12.

Mentioning the measures taken for the improvement of the market in the current year, the official said: “For nearly 12 years, no new brokerage companies were established across the country, but since late October 2021, a licensing permit has been issued in this regard and a new brokerage firm has also been established.”

The establishment of new financial institutions including investment funds, investment consulting companies, financing firms, and financial information processing companies were also mentioned as other steps taken in this regard.

Eshqi also pointed to the launch of Iran’s largest and most advanced capital market data center earlier this month and said that in order to promote the use of information technology in this sector, a smart system is also going to be unveiled for monitoring and assessing the capital market and investment companies.

The above-mentioned data center was established with the aim of stabilizing and developing technology infrastructure in all areas of processing, storage, and security in order to protect the interests of shareholders and meet the technological needs of the capital market.

MA/MA

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