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
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