TEDPIX rises 5,300 points on Tuesday

May 31, 2022 - 14:55

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), gained 5,331 points to 1.542 million on Tuesday.

As reported, over 5.915 billion securities worth 36.847 trillion rials (about $141.7 million) were traded at the TSE.

The first market’s index rose 4,012 points, and the second market’s index gained 10,407 points.

A capital market expert said that the Iranian economy is expected to experience significant growth in the next two years, adding: "This will be a good thing for the capital market and we will see a positive effect on the market as well."

In an interview with IRNA on April 25, Hamid Mir-Moeini pointed to the return of growth to the trend of stock exchange transactions and the factors affecting it, saying: “After the downward trend in the past [Iranian calendar] year (ended on March 20), the capital market finally returned to an uptrend in the last days of the year, paving the way for some optimism in the market for the current year.”

“The resumption of growth in the stock exchange transactions over the last week of Esfand (last month of the Iranian calendar year) was due to the optimism that was influenced by the nuclear talks and this event affected the whole market,” he added.

According to Mir-Moeini, in the new year, however, some of the optimism about the Vienna negotiations waned, and this resulted in a decline in market transactions, but the stock market index continued its upward trend due to the debate over the privatization of the country’s automakers and offering their shares in the market.

"There is still optimism about the nuclear negotiations, and this could be a major factor in removing sanctions and improving the activities of companies, which will greatly improve the capital market transactions," the market analyst stressed.

Noting that the capital market will react to real changes in macroeconomic indicators, he said: "Companies are experiencing good profitability under the influence of increasing access to international markets, and this indicates that economic growth is on the horizon for the country."

“In the next one or two years, we will experience good economic growth, which is in favor of the capital market and we will see its positive impacts in the market as well”, Mir-Moeini added.

MA/MA

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