Extremely profitable week at Tehran Stock Exchange
Baku, Azerbaijan, Feb. 10
By Farhad Daneshvar - Trend:
The main index of Tehran Stock Exchange (TSE) surged by 3,800 points to hit 77,497 over the past week indicating five percent growth.
The TSE turned into the most profitable market in the world over the past week given the enormous growth, Iran's state-run TV IRINN said.
Apparently The TSE is becoming a great growth spot in the world as its main index jumped 25 percent in January when international sanctions against the Islamic republic were partially lifted.
Earlier in an interview with Trend, Mehrdad Emadi, consultant at the U.K.-based Betamatrix International Consultancy said that forecasted growth for the economy, promises high returns and positive growth in Iran's market to foreign companies.
A recent IMF report estimates that Iran's real GDP growth is projected to accelerate to 4-5.5 percent in 2016/17 and to average 4 percent throughout the medium term.
TSE trades a range of shares, funds and financial instruments including Islamic funds. Iranian financial markets have been isolated from the world capital markets over the past several years due to the international sanctions.
However following a long-awaited nuclear deal clinched between Tehran and the world major powers most of the international sanctions against Tehran were lifted on Jan. 16.