Value of trades at Iran’s stock market exceeds $95b

The value of trades at Iran’s four stock exchanges has reached four quadrillion rials (about $95.238 billion) since the beginning of current Iranian calendar year (March 21), Amir Hamooni, the managing director of Iran's over-the-counter (OTC) exchange market, known as Iran Fara Bourse (IFB), announced in a TV program on Sunday night, IRIB reported.

The four stock exchanges include Tehran Stock Exchange (TSE), IFB, Iran Mercantile Exchange (IME), and Iran Energy Exchange (IRENEX).

Hamooni also put the value of trades at IRENEX at 150 trillion rials (about $3.571 billion) since the start of this year.

He further said that the reason for the investors to coming more and more toward stock market is that this market is currently more profit making compared to the other parallel markets in the country.

While lagging the parallel markets of foreign currency, gold coin, and real estate behind, Iran’s stock market hit a new record during the first half of the current Iranian calendar year (March 21-September 22), as TEDPIX, the main index of Tehran Stock Exchange, closed at an all-time high of 302,103 points.

It is while the index had stood at 178,000 points at the end of the previous calendar year.

Experiencing a growth of 74 percent during the first six months of the present year, TSE witnessed its best performance since the Iranian calendar year of 1382 (March 2003-March 2004).

Also as reported, IFB has experienced a noticeable positive performance during the first half, as its main index, IFX, gained 78 percent during the mentioned period of time.

It seems that these markets will preserve their positive performances also during the second half of the year, as TEDPIX gained 9,367 points (the highest rise so far) in the first day of the second half and the value of trades at TSE and IFB reached 32 trillion rials (about $761.9 million).

It shows that some huge liquidity is moving toward the stock market. The power of this liquidity will probably bring new records for this market in the second half.

Also given that no growth is being seen at the markets of foreign currency and gold coin, and housing market is expected to witness drop in prices during the second half, another positive performance is anticipated for the stock market.

source: Tehran Times