Tehran, Iran, June 17
By A. Shirazi, Kamyar Eghbalnejad - Trend:
A recent historical record in growth of Tehran Stock Exchange (TSE)’s main index (TEDPIX) indicates that people are willing to invest in stocks rather than in the markets of gold and real estate, a senior Iranian expert said.
“This year is expected to be promising for Iran stock market, and that it will have a bright future as the country’s firms’ income, the return on investment and liquidity volume are on the rise,” Hossein Khezli Kharazi told the Trend news agency on June 18.
He added that the stock market is currently a more attractive place to invest compared to other markets in the country as the liquidity volume is growing and can easily turn into cash.
Investors are effortlessly buying and selling shares in different groups of commodities and their capital is, in fact, cash money, Khezli Kharazi explained.
Players in Iran’s capital market witnessed a historical record in growth of Tehran Stock Exchange (TSE)’s main index (TEDPIX) which gained 3,306 points to hit 102,452 points on Sunday, something unprecedented in the 50-year history of the country’s stock market.
As reported, 1.821 billion securities worth 5.49 trillion rials (about $130 million) were traded through 100,000 deals in a day.
Also, IFX, the main index of Iran's over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), rose 37.6 points to stand at 1,191 points on Sunday.
As reported, 613 million securities worth 1.26 trillion rials (about $29.8 million) were traded through 58,000 deals in a day.
Metals, chemical products, and minerals witnessed stable status of purchases on Sunday.
The Iranian expert said the reason behind the growth is not fundamental, adding that the wave of gold and real estate markets’ liquidity is sweeping the stock market as the latter is more stable now.
He noted, given the current situation, it is a good idea that the government launches a stock market for trading foreign currencies and allow people to buy and sell their shares online.