Tehran Stock Exchange index hikes in first work day of fiscal year
Baku, Azerbaijan, March 26
By Fatih Karimov - Trend:
Tehran Stock Exchange (TSE) main index surged by 981 points to hit 81,200 in the first work day of current Iranian fiscal year on March 26.
TSE said on its website that 918 million equities, worth 1,946 billion rials, were traded by the end of the day.
According to official rate on March 26 one dollar makes 30,252 rials.
The total value of stock market stood at 3505 trillion rials.
TSE has been uptrend since Jan. 16 when the removal of international sanctions created hopes for reaping profits from Iran.
As most of stock markets in the world have been in downtrend, the TSE indicated 28 percent growth during the last Iranian fiscal year (ended March 20).
The traders in the Tehran Stock Exchange celebrated the new Iranian calendar year on March 20, while the TSE saw strong performances in its shares in the last week of the calendar year, 1394. The TSE main index rose by 2.4 percent closing at 80,219 points in its last week in 1394.
Some 318 companies, as well as 37 factories, are listed on Tehran Stock Exchange in 37 sectors, according to a TSE monthly briefing released in November 2015.
TSE trades a range of shares, funds and financial instruments, including Islamic funds. It didn't receive any foreign investment for several years because of sanctions over Iran's nuclear program.