Tehran stocks market boosts slowly
Tehran, Iran, Oct. 8
By Milad Fashtami - Trend:
Tehran Stock Exchange (TSE) main index was increased by 64 units on Oct. 8, standing at 71,783 units.
On Tuesday, the TSE faced a 102-unit fall, Iran's IRNA news agency said Oct. 8.
The first market's index was also increased by 112 units on Oct. 8 and reached 52,687 units.
The second market's index, however, faced a 284-unit decrease and stood at 142,435 units.
Iranian Minister of Economic Affairs and Finance Ali Tayebnia ordered the insurance companies and major banks to support Iran'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 (started 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.
TSE'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 also ranked 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.