Tehran Stock Exchange’s main index climbs slowly

Business Materials 7 May 2014 14:36 (UTC +04:00)

Tehran, Iran, May 7

By Milad Fashtami - Trend:

Tehran Stock Exchange's main index (TEPIX) increased by 35 units to 77,752 units on May 7.

Iran's capital market value also surpassed 3,760 trillion rials (about $117.5 billion based on the rate USD at the free market) on Wednesday, Iran's Fars News Agency reported.

The first market's index was decreased by 2 units and stood at 58,001 units. But the second market's index with a 218-unit increase hit 148,291 units.

Iranian Minister of the Economic Affairs and Finance Ali Tayebnia has ordered insurance companies and major banks to support the country's capital market.

Bank Melli Iran, Bank Mellat, Bank Sepah, and Tejarat Bank are supposed to inject some 40 trillion rials (some $1.33 billion based on the exchange rate of USD at the free market) to the Capital Market Development Fund in near future.

The main index of Tehran Stock Exchange (TEPIX) started the previous Iranian calendar year (which stated on March 21, 2013) with a surprising rise, but faced a disappointing fall in the last two months of the year.

TEPIX stood at 39,000 units in the second working day of the previous year, but surpassed 89,500 units in the 10th calendar month.

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 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 markets.