TEHRAN (Iran News) – The main stock exchange in Iran, the TSE recorded its biggest daily jump as the main index in the market tops an all-time high of 668,320 points.
The main stock exchange of Iran, the TSE recorded its biggest daily jump as the main index in the market tops an all-time high of 668,320 points.
Reports in the local media said the Tehran Stock Exchange main index TEDPIX rose by 23,219 points on Saturday, a surge of 3.49 percent compared to figures recorded at the end of the previous day of trade in the market, Press TV wrote.
The biggest gains on shares were recorded for Mobarakeh Steel Company (MSC), National Iranian Copper Industries Company (NICICO) and MAPNA Group, according to the reports.
TSE’s price index, known as TEPIX, also rose 3.52 percent, to hit 233,507 points, as 5.7 billion shares changed hands in more than 804,000 trade exchanges.
Trades on Saturday added another $380 million to TSE’s total value, bringing it to over 25,000 trillion rials (nearly $157 billion).
The figures recorded the strongest one-day performance for the TSE in history, according to the local media reports.
It comes several days after a major government-run investment holding company, known as Shasta, launched its initial public offering in a subsidiary market of the TSE known as Iran Fara Bourse (IFB), to attract 70 trillion rials, or around $440 million, in new finances.
Saturday was a busy day for the IFB, too, where there is a cap on trade for securities and other financial instruments.
Reports said a total of 1.77 billion shares were traded in the market with a value of nearly 3 trillion rials ($187.5 million). That caused the IFB’a main index IFX to rise by 254 points to reach 8,438 points.
Investing in shares has become very popular in Iran over the past months as many businesses and households are no longer interested in low returns on gold or foreign currencies.
- source : Iran Daily, Irannews