Iran's TSE overall index gains 30.7 per cent

Business Materials 10 December 2012 14:56 (UTC +04:00)

Azerbaijan, Baku, Dec. 10/ Trend G.Mehdi/

The Tehran Stock Exchange overall index has gained 30.7 per cent since the beginning of the current Iranian calendar year which began on March 20, reaching the 33,853 mark, IRIB reported on Monday.

An increase in share prices and dividends was the main reason for the positive function of the TSE, according to the report. The TSE index hit a 46-year high on November 27.

Iran will set up a special fund with the initial capital of 300 billion rials (about $25 million) with the goal of developing investments in the capital market, ISNA quoted Ayyoub Baqertabar, an official with the securities and exchange organisation as saying.

The fund's asset is projected to be increased to 20 trillion rials in the future, he said.

Iran's capital market value hit 1370 trillion rials (around $112 billion) in the seventh calendar month of Mehr (ended on Sept. 22), IRIB quoted Finance and Economic Affairs minister Shamseddin Hosseini as saying.

The capital market value has grown by more than four fold since the Iranian year 1384 (March 2005-March 2006), reaching to $112 billion from $27 billion, he noted.

The number of shareholders has also increased to around 6.2 million from three million during the same period, Hosseini added.