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Iran's TSE index soars 3.5 per cent

Business Materials 9 February 2013 15:58 (UTC +04:00)

Azerbaijan, Baku, Feb.9/ Trend F.Milad‎‏

The TSE's main index, TEPIX, rose by 3.5 per cent on Saturday, reaching 38,205 units.

Isfahan Refinery's shares were once again offered at the TSE, the IRNA News Agency reported.

More than 12.78 million shares of Isfahan Refinery, worth about 214.3 billion rials (around $17.5 million based on the official rate of USD), were transacted at the Tehran Stock Exchange on Saturday.

Iran's Securities and Exchange Organization Head Ali Salehabadi said earlier this month that the total value of Iran's capital market, including the TSE and the Over-the-counter markets, is half of the gross domestic production (GDP).

The capital market's total value rose to 2150 trillion rials (about $175 billion) in 2012 from 400 trillion rials (about $32 billion) in 2006, he added.

Founded in 1967, the Tehran Stock Exchange has been one of the world's best performing stock markets in recent years and has ranked as the best bourse index in Europe, Africa and Middle East in 2010 in terms of performance of the main index.

The TSE's annual growth rate of main indices also ranked as the second best among all members of the World Federation of Exchanges (WFE).

The WFE is the association of 52 regulated exchanges around the world which aims to develop and promote standards in the markets.

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