Tehran, Iran, June 4
Trend:
The analysis of Iran stock market in recent weeks indicates that the stable foreign exchange rate has positively impacted the market and brought profit to stock companies.
According to Iranian media reports, while the housing, auto and gold market had faced depressing situation, the stock exchange market is more stable. By end of May 2019, 4.4 billion shares worth about $53 million were traded, and the stock index grew by 1,222 units.
Mostafa Omid Ghaemi, former Managing Director of Over-the-counter (OTC), discussed the current increase of stock index in an interview to Trend.
In his words, in past week, a total of 15,718 million bonds worth about $1.1 million and 204 million units from investment funds worth $5.5 million were traded at Tehran Stock Exchange.
The stock index grew up by 9,308 units, which shows an increase by about 4.33 percent; meanwhile, traded stocks reached 224,477 units. The index in first market reached 6,543 units (+4.06 percent), and the index in second market had increased by 20,000 units (+4.81 percent), he said.
"The stability of foreign exchange rate led to the rise of stock indexes. However, while other markets are stable, the capital market still has the capacity to grow, as currently it is far behind others," he noted.