Iran's TSE index surpass 39,000 units

Oil&Gas Materials 27 March 2013 12:20 (UTC +04:00)

Azerbaijan, Baku, Mar.27/ Trend F.Milad

The TSE's on-going surge continued in the new year as the main index TEPIX, soared to a fresh record surpassing 39,351 units, the ISNA News Agency reported.

Shares of Isfahan's Mobarakeh Steel Company, Gol-e-Gohar Company, and the Esfahan Oil Refining Company were offered on the TSE this week which caused a boost on transactions.

Iran's Securities and Exchange Organisation Head Ali Salehabadi said in February that the total value of Iran's capital market including the TSE and the over-the-counter markets, is half that 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 ranked as the best bourse index in Europe, Africa and the 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.