Iran TSE main index’s unprecedented rise slows
Azerbaijan, Baku, Jun.19/ Trend, R. Zamanov
The ongoing surge of the Tehran Stock Exchange (TSE) main index continued slowly on Wednesday as the main index, TEPIX, soared to a fresh record, passing 48,916, Mehr News Agency reported.
The TSE's main index faced an unprecedented rise this week.
TEPIX stood at 46,623 on June 15 after an unprecedented daily rise of 951 units. It surpassed 47,000 units on June 16 and soared to 48,000 units on June 17.
But the ongoing surge of TSE's main index still continues.
TEPIX reached 48,783 units on Tuesday at noon, and it's predicted that it will mark a fresh record at 49,000 units in no time.
Some experts believe that the unprecedented rise is due to the result of Iran's presidential election. Reformist candidate Hassan Rohani was elected president on Saturday with 50.7 per cent of the votes.
TEPIX had surpassed 39,000 units in the second working day of the current Iranian calendar year, which started on March 21.
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 was also ranked as 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 markets.