Tehran Stock Exchange closes 5-day winning streak

Financial Tribune – With the stock market making new inroads, the main index of the Tehran Stock Exchange for the first time climbed above 220,000 points on Wednesday to close the trading week 1.6% higher.

According to Donyaye Bourse website, reports about rationing gasoline, launching short selling in the capital market and selling 70,000 barrels of heavy crude oil on the Iran Energy Exchange on Tuesday, are also responsible for the upbeat trend in recent days.

Fars News Agency reported Tuesday that the fuel rationing plan has been approved by the Supreme Council of Economic Coordination – a body comprising heads of three branches of government to address major economic issues. It claimed the rationing plan would start today (Thursday). The Oil Ministry on Wednesday afternoon denied the rationing dateline.