Iran capital stock market makes good start in New Year

Iran’s capital city stock market, Tehran Stock Exchange (TSE) gets off to a positive start in the new Persian calendar year (which started on March 21).

The TSE’s overall index, aka Tehran Exchange Dividend Price Index (TEDPIX), saw a considerable 353-unit increase to stand at 62,885 units in Wednesday trading.

In the course of the first day of business at the TSE, a total of over 775.5 million shares roughly worth 1.19 trillion rials (nearly USD43 million) were exchanged.

Shares in metals, oil, gas and petrochemicals plus banking and telecommunications industries registered the biggest trade.

Wednesday’s trading shows a 0.56-percentage point growth.

Tehran Stock Exchange had a turbulent year mostly in the second half of 2014 and the early 2015 as it witnessed a downward spiral over the oil slump, low liquidity, budget ambiguities and the country’s lingering nuclear negotiations with the P5+1 group.

However, the TSE, which is a founding member of the Federation of Euro-Asian Stock Exchanges, has been one of the world’s best performing stock exchanges in recent years.

Hundreds of companies with a combined market capitalization of over $100 billion are said to be on its list.

The most important advantage of Iran’s capital market in comparison with other regional markets is that there is a wide variety of industries including the automotive, telecommunications, agriculture, petrochemical, mining, steel iron, copper, banking and insurance, financial mediation and other trade shares at the TSE, which makes it unique in the Middle East.

By Press TV