TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), rose 3,019 points on Tuesday.

The index closed at 1.451 million points, as over 5.893 billion securities worth 50.496 trillion rials (about $180.34 million) were traded at the TSE.

The first market’s index rose 4,962 points, and the second market’s index gained 2,135 points.

TSE is one of the four Iranian stock exchanges, the other three ones are Iran Mercantile Exchange (IME), Iran Energy Exchange (IRENEX), and Iran’s over-the-counter (OTC) market, known as Iran Fara Bourse (IFB).

Senior stock market analyst, Ashkan Zoudfekr, believes the government must support the stock market against other parallel competitors like money and property markets, the Securities and Exchange News Agency (SENA) reported on Sunday.

“Considering the fact that the capital market provides liquidity and dynamism to the economy, and is a useful and active part of the country's economic development, strengthening it should become a priority for the government,” Zoudfekr said.

Stating that lack of sufficient attention and determination by the government to regulate and supervise speculative markets has caused liquidity to be guided to such markets and become idle and unproductive.

The expert further stressed that the government needs to formulate a specific strategy for the capital market to be followed by other institutions. He noted that the representatives of Stock Exchange Organization (SEO) should be actively collaborating with the country’s legislative and decision-making institutions to improve the market’s condition.

“Despite the excellent reports of the companies in spring, these days we are witnessing a significant outflow of resources from the market,” he regretted, adding: “By implementing a calculated and specific strategy, which is adhered by all the economic institutions, it is possible to achieve the goals set for the stock market in the shortest time.”

Iranian stock market has been struggling for months to get back on track, however various internal and external factors have been hindering this market from reaching its true potential.

MA/MA