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07/12/10

Tehran stock exchange hits all-time high

Source: Press TV

 
Tehran Stock Exchange (file photo)
Tehran index hits the highest-ever record of 14,987 points on Monday.

The Tehran Stock Exchange index has hiked more than 100 points, hitting the highest-ever historical record of 14,987, despite US-sponsored sanctions against Iran.

Since the beginning of the new Persian calendar year in March 2010, Tehran's stock market has witnessed an ongoing boom with its index starting from 12,537 and rising by 2,450 points to reach near 15,000, Fars News Agency reported.

Factors such as the global spike in oil and metal prices, government support for industries and oil sectors as well as the growth of stock market liquidity flow have contributed to the recent boom, which comes one month after the UN Security Council imposed a fourth round of sanctions against Iran.

Analysts believe that the market should surpass the 15,000 level to assure investors that the current growth is steady.

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