It said the price index, TEPIX, had also rallied by 1,737 to stand at 102,799 points, bringing the total value of Tehran Stock Exchange to more than 12,130 trillion rials (over $90.5 billion).

ISNA reported that TEDPIX, the main index at TSE, had increased by 4,942 points to reach a total of 332,567, a record high never seen on the market before.

The figures recorded on Sunday were slightly higher than a previous round of boom seen on the market on October 5, 2019, when TEDPIX stood at 327,305 and TEPIX topped 97,377 points.

A total of 4.772 billion shares were traded at TSE on Sunday at 544,880 times of exchange with an overall value of 23.09 trillion rials (over $172 million), said other reports.

One private bank, one major petrochemical company and several mining and metals groups were among those with highest-yielding shares in the market.

The ISNA report further said that trade in Iran Fara Bourse (IFB), an off-exchange market, was also booming on Sunday with the main index closing at 4,282 points, a 53-point increase compared to the previous day.

However, the report added that the IFB had accommodated a total of 388,000 share trades worth more than $410 million.

The latest rallies at TSE and IFB come despite a surge in the prices of foreign currencies in Iran that began following a government decision to increase the price of fuel last month.

That proves reports that shares have outperformed forex in attracting household savings as a major source of investment.

The post Tehran Stock Exchange rises high appeared first on Iran News Daily.

Also as announced by SEO Head Shapour Mohammadi, 300,000 persons are conducting trades at this market per week, of them 20,000-30,000 persons are present in the base market of Iran’s over-the-counter (OTC) exchange market, known as Iran Fara Bourse (IFB).

The official put the number of companies active at stock market at 600, and number of financial institutes active at this market at 650, saying that 6,000 directors are present at the country’s capital market.

In September there were some 630 large companies, active in 40 industries, with full transparency in performance that were currently present at Tehran Stock Exchange and Iran Fara Bourse.

Increasing number of the companies, rising capital, and diversity of securities all indicate that this market is working well toward more capital funding, but it is unfortunate that despite all these promising factors, stock market’s share is still low in this due.

One reason is that investors have their eyes more on the banks rather than the Bourse for securing their required fund; it seems somehow logical as the banking system has a longer history in Iran compared to the stock market. There are hopes to make the market doing better.

The post Stock market; Number of trading codes hits 13m appeared first on Iran News Daily.

IRAN NEWS ECONOMIC DESK

He went on to say that transparency is the other advantage of entering the Fara Bourse and those companies which are out of Fara Bourse lack transparency.

He added that EDBI is ready to provide the companies with necessary security in order to join the bourse. He reiterated that this policy can strengthen the resources of the production unity.

Salehabadi said that prompting to pay the dues is an advantage comparing to other advantages, adding that prompting to pay the dues is the credibility of a customer.

The post Presence in Fara Bourse Is Ground for Trust Building appeared first on Iran News Daily.

The number of trades has also increased 79 percent during the seven-month period on year, Tasnim news agency reported on Wednesday.
As reported, some 85.217 billion securities worth 517.679 trillion rials (about $12.325 billion) were traded through 10.102 million deals in IFB during the first seven months of this year.

The post Worth of trades in Fara Bourse up 107% in 7 months on year appeared first on Iran News Daily.

The IFB benchmark index has gained 14 percent since the beginning of the sixth Iranian calendar month of Shahrivar (August 23), the report added.

During the week from September 8 to 12, 5.18 billion securities worth 30.98 trillion rials (about $737 million) were traded, showing 29 percent in terms of volume and 54 percent in terms of value, compared to the preceding week.

The post Iran Fara Bourse hits record high appeared first on Iran News Daily.

As reported, 7,739 million securities worth 58.68 trillion rials (about $1.407 billion) were traded in Azar, showing 30 percent and 62 percent growth in the number and value, respectively, compared to the same month last year.

Also, the number of trades doubled in the ninth month this year from Azar in the previous year.

Meanwhile, IFX has risen 23 percent since the beginning of current Iranian calendar year (March 21, 2017) compared to the same time span in the past year.

The post Fara Bourse’s main index up 4.8% in a month appeared first on Iran News Daily.