Breaking: Value of trades in Iranian stock market climbs 625% in 4 months yr/yr
TEHRAN- The value of trades in Iranian stock market has risen 625 percent during the first four months of the current Iranian calendar year (March 20-July 21), compared to the same period of time in the past year, Finance and Economic Affairs Minister Farhad Dejpasand announced.
The minister also said that the value of four-month trades at this market has increased 145 percent since the beginning of the current Iranian year, IRIB reported.
Dejpasand put the value of initial public offerings (IPOs) in the Tehran Stock Exchange (TSE), and Iran’s over-the-counter (OTC) market, known as Iran Fara Bourse (IFB), at 137 billion rials (about $3.261 million) during the first four months of the present year, and said the figure is nearly two and half times more than that of the whole previous year.
The official went on to say, “We try to save the liquidity attracted by the capital market and lead it toward production and development.”
As announced by the head of Iran’s Securities and Exchange Organization (SEO), the amount of liquidity absorbed by Iran’s capital market reached 500 trillion rials (about $12 billion) during the first quarter of the current Iranian calendar year (March 20-June 20).
Hasan Qalibaf-Asl said, “It is while the total amount of liquidity entered into this market stood at 300 trillion rials (about $7.14 billion) during the past year.”
The official also has noted that the high amount of liquidity that is entering the capital market has provided some good opportunity for this market, as it’s being developed and flourished, for the enterprises, as they’re securing their required funds, and also for the government.
While the past Iranian calendar year (ended on March 19) was full of success for the TSE, which is Iran’s major stock exchange, the market is also preserving its successful performance in the current year, and the noticeable point in this due is that the other economic sectors are experiencing some declining trend due to the coronavirus pandemic.
We have been witnessing new record highs continuously posted by the TEDPIX, the main index of TSE, since the year start, and climbing to the peak of one million points, something almost unbelievable just some time ago, came true in early May.
The index hit the record high of 1.5 million points on June 30, and the record high of 1.9 million points on July 20.
Last week, a capital market expert said that TEDPIX is expected to climb to 2.5 million-2.7 million points by the end of Iran’s second quarter (September 21).
Referring to the new record registered by the index on July 20, Bahador Shams told IRNA that a noticeable amount of liquidity is leading to the stock market and many investors are seeking to make investment in this market.
There is a high demand in the market, he underscored.