Baku, Azerbaijan, May 7
By Khalid Kazimov - Trend:
The Tehran Stock Exchange (TSE) main index dropped by 609 points and stood at 77,423 on May 7.
TSE said on its website that 1.019 billion equities, worth $ 111.06 million were traded by the end of the day.
The TSE index has recently been in a downward trend. It seems that the week performance of the shares of automotive group is among the main reasons for the plunge. The index indicated surge over the last Iranian fiscal year (ended 20 March). The index on March 26, the first working day of the new Iranian calendar year, also continued to surge by 981 points hitting 81,200.
The TSE main index jumped 25 percent in January when international sanctions against the Islamic Republic were lifted as a result of the implementation of the nuclear deal.
The automotive, IT, transportation and logistics sectors experienced the highest growth over the last Iranian year.
Low growth was observed in the rubber and plastics, ceramic and tiles and cement production sectors in the mentioned period.
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.