Index at Tehran stock exchange nearing 1-mln-points milestone
Iranian stocks keeps rising to highs never seen before as main index at Tehran Stock Exchange (TSE) nears the 1-million-points milestone.
Reports in the local media on Tuesday showed that TSE’s TEDPIX was down 0.11% compared to Monday at 978,019.48 points.
Some 18.77 billion shares changed hands in more than 1.92 million times of exchange in the TSE’s main hall on Tuesday. The total value of the shares traded reached more than 157 trillion rials (nearly $1 billion).
It was a second day of slump for TEDPIX. The index had seen several daily jumps of 35,000 points over the previous days.
Experts believe trade in the stock market will rebound in the coming days helped by optimism over government plans to list more companies.
Underwriting began on Monday for the imminent listing of a government-led exchange tradable fund (ETF) comprising of three major banks and two insurance and reinsurance companies.
That added nearly $1 billion to the TSE’s value. The overall value in the market has reached more than 36,722 trillion rials (nearly $230 billion), according to figures published on Tuesday on a website run by the TSE.
Trade at Iran Fara Bourse, a subsidiary of the TSE where securities and other financial instruments are traded, was also down on Tuesday by 60 points to stand at 11,165.
The value of traded shares in the IFB reached over 56 trillion rials ($350 million) for nearly 3.495 billion shares that changed hands in the market on Tuesday.
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