TEDPIX gains 831 points on Wednesday

July 7, 2021 - 15:23

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), gained 831 points to 1.282 million on Wednesday.

As reported, over 6.928 billion securities worth 54.844 trillion rials (about $1.305 billion) were traded at the TSE on Wednesday.

The first market’s index fell one point, while the second market’s index rose 3,754 points.

Over the past two years, a number of factors affecting Iranian economy have created a new status in the country’s capital market, in a way that this market experienced such a growth in the past Iranian calendar year 1399 (ended on March 20) that was never seen in its history of more than 50 years.

The fall in oil prices and the reimposition of the U.S. unilateral sanctions on Iran’s economy led the Iranian government to turn to the capital market for funding.

On one hand, the government tried to prevent liquidity from going to the markets such as gold and foreign currency, and on the other hand, considering the recent events in the Iranian economy, it also looks at this market with a view of financing, which resulted in the prosperity of this market.

The rising rate of inflation and also that of foreign currency exchange have been also mentioned as two major factors led to the flourishment of the capital market.