TSE index up by 362 points

Oil&Gas Materials 17 July 2016 19:22 (UTC +04:00)

Baku, Azerbaijan, July 17
By Khalid Kazimov – Trend:

The main index of the Tehran Stock Exchange (TSE) rose by 362 points or 0.44 percent on July 17, to end Sunday trade at 74194.8 thanks to petrochemical companies.

According to the TSE official website, more than 1 billion shares valued at 3.5 trillion rials (according to official rate on July 17 per US dollar makes 30,885 rials) were traded at 62,502 transactions on Sunday.

Traders saw some volatility on the Tehran Stock Exchange over the past months as the negative trend of prices and trade volumes turned positive.

The TSE main index fell by 5 percent over the last Iranian month of Khordad (May 21 – June 20) compared to the preceding month of Ordibehesht (April 20 – May 20).

The downward trend in the TSE came following an extremely positive reaction to the implementation of the Joint Comprehensive Plan of Action (JCPOA) Jan. 16, which resulted in the removal of the nuclear-related sanctions imposed on the Islamic Republic’s key energy and financial sectors.

The TSE, however, hiked by 28.3 percent over the last Iranian calendar year that ended on March 20, compared to the preceding year.