TEDPIX climbs 21,700 points on Tuesday
TEDPIX, the main index of Tehran Stock Exchange (TSE), gained 21,730 points to 1.496 million on Tuesday.
As reported, 7.213 billion securities worth 61.549 trillion rials (about $1.465 billion) were traded at the TSE on Tuesday.
The first market’s index gained 19,412 points, and the second market’s index rose 32,865 points.
TEDPIX gained 6,000 points to 1.526 million in the past Iranian calendar week (ended on Friday, September 10).
During the past week, the indices of Bandar Abbas Oil Refinery, Mobarakeh Steel Company, State Retirement Fund, Social Security Investment Company, Isfahan Oil Refinery, and Barekat Pharmaceutical Group were the most widely followed indices.
Back in July, Market Analyst Mehdi Bayat-Manesh had said that TEDPIX is going to improve in the second half of the current Iranian calendar year (September 23, 2021-March 20, 2022).
Bayat-Manesh noted that considering the current trend of capital inflow into the market TEDPIX is expected to rise in the mentioned period.
According to Bayat-Manesh, the government policies for supporting the upward trend of the market should continue in the coming months in order to ensure this upward trend.
“It is also better for the managers of Iran's Securities and Exchange Organization (SEO) to also take the necessary measures for supporting the market so that the stock market index can once again reach more than two million points, which takes at least a few months to happen.”
He pointed to the continuous increase in inflation rate in recent months and its effect on capital market transactions and added: “Shareholders' fears and worries about investing in the market will be eliminated by increasing government support and will increase their willingness to invest in this market.”
Following the supportive measures taken by the government, the Iranian stock market has been gradually getting back on track and experts believe that the market is regaining people’s trust.
Source: Tehran Times
Top News
Six last month
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Gold loses some luster after Trump’s decisive win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Hedge funds slash bullish wagers on gold over Trump election win
Resolute Mining says it will pay Mali $160 million in tax dispute
Families gather at South African mine shaft where hundreds are feared stuck underground
Higher silver supply to reduce global deficit by 4% in 2024
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
