Tehran, Iran, Jul. 9
By Milad Fashtami - Trend:
Tehran Stock Exchange's main index (TEPIX) has increased by 391 units on July 9, standing at 73,416 units.
The first market's index was increased by 185 units and stood at 54,670 units.
The second market's index also faced a 1,444-unit increase and reached 140,784 units.
Iranian Minister of Economic Affairs and Finance Ali Tayyebnia 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 the 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.
Tehran Stock Exchange's main index has experienced a falling trend ever since.
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.