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Tehran Stock Exchange hits record high on market optimism

Source: Tehran Times

TEHRAN - The Tehran Stock Exchange's main index, TEDPIX, notched a record high on Tuesday amid a positive climate that has been generated after the implementation of nuclear deal between Iran and world powers. The TEDPIX gained 2,142 points, equaling 3 percent, to end at 70,999.

cartoon by Ehsan Ganji

The market optimism has breathed new life into the stock market that has been stagnating at two-year lows until recently.

Close to 2.256 billion shares, worth 4.6 trillion rials (about $127 million) were traded at the stock market.

TSE's total value also hit over 3.04 quadrillion rials (about $84 billion).

The Iranian stock market is rather well diversified compared to other markets in the region with more than 30 sectors being present on the equity market.

Stocks picked up this week, clearly in anticipation of money from outside the country flowing into stocks.

Some $1 billion in foreign money - equal to 5 percent of all money in frontier markets - may be directed to Iran's stock market in 2016, according to analysts.

... Payvand News - 01/27/16 ... --

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