Tehran Stock Exchange’s main index continues to fall
Tehran, Iran, Nov. 16
By Milad Fashtami - Trend:
Tehran Stock Exchange's main index (TEPIX) decreased by 17 units on Nov. 16, standing at 75,929 units.
The first market's index however, increased slightly by 2 units and reached 56,142 units.
The second market's index faced a 131-unit fall and stood at 1487,981 units.
Iran's capital market value also hit 3,337 trillion rials (about $104.3 billion based on the exchange rate of USD at the free market).
Chairman of Iranian Securities and Exchange Organization Ali Salehabadi said on Oct. 31 that some 200 trillion rials (some $6.25 billion based on the exchange rate of US dollar at the free market) have been injected to the country's stock market from the beginning of the current Iranian calendar year (March 20) until the end of October.
Iran's SHANA news agency reported on Oct. 29 that Tehran Stock Exchange market capitalization amounted to $105 billion at the end of the past Iranian calendar month of Mehr (October 22).
The figure showed a 5 percent fall compared to the same period of the previous year.
USD exchange rate in Iran is currently about 32,000 rials.
Chemical companies group topped the market capitalization list, with $24 billion in value, followed by financial institutions group and metals groups, with $11.5 billion and $11 billion in value, respectively.
Iranian Minister of Economic Affairs and Finance Ali Tayebnia 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.
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.