Tehran Stock Exchange main index rises 353 points

Business Materials 25 March 2015 16:43 (UTC +04:00)

Baku, Azerbaijan, Mar. 25

By Fatih Karimov - Trend: Tehran Stock Exchange main index (TEPIX) rose 353 points on March 25, the first working day in the current Iranian fiscal year.

TEPIX hit 62,885 points, a 0.56 percent growth compared to the last working day in the previous year, Iran's IRNA news agency reported on March 25.

Some 775 million shares, worth 1180 billion rials (about $42 million based on the official exchange rate) were sold on the Tehran Stock Exchange.

Ali Salehabadi, chairman of the Iranian Securities and Exchange Organization, said in November 2014 that the country's capital market has snapped out of recession.

Iranian Minister of Economic Affairs and Finance Ali Tayebnia has ordered insurance companies and major banks to support the country's capital market.

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.

The WFE is the association of 52 regulated exchanges around the world, which aims to develop and promote standards in markets.