Recession continuous in Tehran Exchange Market
Baku, Azerbaijan, Dec. 9
By Khalid Kazimov - Trend:
The Tehran Stock Exchange has slipped into recession since December 2013 due to political and economic ambiguities and the lack of government's support for various sectors of economy, ISNA news agency reported Dec. 9.
The overall direction of Tehran Stock Exchange has been downward since March 2015 and the sharp decline in the prices of shares has caused the shareholders to stop trading.
According to the report, the shareholders of 20 industrial sectors have been damaged harshly following the prices slump.
Automakers rank first among the losing shareholders, as they lost 9.2 percent over the past month. The others are those of metal ore, banks, oil products and technical services.
The volume of shares traded on the Tehran Stock Exchange and its main index have dramatically plunged while following a July nuclear deal between Iran and the world powers, Tehran Exchange Market was expected to grow.
Following the latest round of Iranian presidential election in 2013, many expected the sanctions to be lifted off Iran soon, as well as fresh economic and industrial policies of the new government would change the situation in the country quickly, however it never happened.