TEHRAN, Iran, Nov. 11
Trend:
Stocks of some 100 Iranian companies will be offered on Iran's Stock Exchange by the end of the current Iranian year (end on March 21, 2021), said Iran's Minister of Economy Farhad Dejpasand, Trend reports via Mehr News Agency.
“The government is trying to move these fluctuations to a stable and growing market,” the Dejpsand said on the sidelines of the cabinet meeting on Wednesday.
Dejpsand went on to say that “recently, a number of issues were raised that affected the stock market."
"For example, the rumors about rising the bank interest rates which has been rejected by the governor of the central bank,” he said.
“Some shareholders were concerned that the stock exchange downtrend could be steady,” said the minister.
“The government has decided to transfer all state-owned shares via stock exchange, because it is transparent, and based on a competitive nature,” he said adding that the decision is in line with strengthening the capital market.
In an economy besieged by sanctions and handicapped by corruption, the Tehran Stock Exchange offered a rare opportunity for making profits and creating wealth. That opportunity, however, has proved to be a mirage.
From a peak index of 2,065,114, the exchange — known as the TSE — fell to 1,211,000 today, erasing millions of dollars of value of different portfolios and financial asset holdings.