Iran’s capital market efficiency to surpass 35 per cent
Azerbaijan, Baku, July 1 /Trend / N.Umid/
Capital market efficiency surpassed 35 per cent during the current solar year, started in March 21, 2013, Head of the Securities and Exchange Organisation (SEO), Ali Salehabadi said.
Iran's Radio Payam quoted Salehabadi as saying the increase of the profitability of the exchange foundations and issuing of the Kalije Fars Holding`s share which is the main Petrochemical holding of Iran on the stock exchange are the main reason for the on-going surge in the amount of capital market, Salehabadi said.
"A decrease of the world gold price, reduction of the foreign currency rate compared to Iran's national currency and stability in the housing sector in Iran after presidential elections (June 14) are another reasons in attraction of capital to the stock exchange," Salehabadi said.
He underlined that exceptional good profitability in the stock exchange led to attraction of capital to this sector," he added.
Iran's capital market value has surpassed 2,440 trillion rials, about $199 billion based on the official rate of USD and $73.93 billion based on the free market rate of free market on July 1.
The on-going surge of Tehran Stock Exchange (TSE) main index continued on Sunday as the TEPIX reached 51,032 units with a remarkable daily rise of 850 units. The industry index also increased by 687 units on Sunday and reached 43,841 units, the Securities and Exchange News Agency reported.