IFX climbs 29% in a month
IFX, the main index of Iran’s over-the-counter (OTC) market known as Iran Fara Bourse (IFB), rose 29 percent in the second Iranian calendar month of Ordibehesht (April 20-May 20), Tasnim news agency reported.
As reported, the index stood at 11,113 points at the end of the second month, while its performance registered a 69-percent growth since the beginning of the current Iranian calendar year (March 20).
IFB is one of the four major stock exchanges of Iran. The other three ones are Tehran Stock Exchange (TSE), Iran Mercantile Exchange (IME), and Iran Energy Exchange (IRENEX).
The past Iranian calendar year (ended on March 19) witnessed a very fruitful performance for the country’s stock market.
As TSE Head Ali Sahraei has announced, the value of trades at the Tehran Stock Exchange jumped 2.6 folds, while Return on Investment (ROI) reached 180 percent in the previous year.
While growth and development in the Iranian stock market have been started in recent years, the previous year was in fact a time of flourishment for the country’s stock exchanges.
Different factors contributed to the past year’s prominent success in the stock market.
One important factor was proper ground laid in the stock market and providing better conditions for traders.
The other factor was the status of parallel markets, such as those of foreign currency, gold coin, and housing in the past year that made making investment in the stock market an obviously better and more profitable choice for the investors.
And now despite the economic condition created by the coronavirus outbreak, the Iranian stock market is experiencing more growth in the current Iranian year.
source: TehranTimes
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