Tehran Stock Exchange main index drops 448 points
Baku, Azerbaijan, Dec. 27
By Fatih Karimov - Trend:
Tehran Stock Exchange's main index (TEPIX) dropped by 448 points on Dec. 27, standing at 69,705 points.
The first market's index also decreased to 51,443 points, Iran's Fars news agency reported on Dec. 27.
The second market's index decreased to 136,474 points.
Iran's capital market value also surpassed 3.15 trillion rials (about $90 billion based on the exchange rate of USD at the free market).
Ali Salehabadi, the former chairman of the Iranian Securities and Exchange Organization, said on November 19 that the country's capital market has snapped out of recession.
"Currently, some 40-50 billion rials (some $1.25-1.5 million based on the exchange rate of US dollar at the free market) worth of transactions is done each day which is a good sign," he explained.
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 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.