US presidential election result drops Tehran’s stock market
Baku, Azerbaijan, Nov. 10
By Fatih Karimov – Trend
The main index of the Tehran Stock Exchange (TSE) experienced a sharp fall by 1459.8 points or 1.83 percent on Nov. 9 as the results of the presidential election in the US was unveiled.
Reacting to Republican Donald Trump's victory at US presidential election the index decreased to 78411.6, the TSE reported.
Meanwhile Shapour Mohammadi, head of the Securities and Exchanges Organization of Iran (SEO) said that the negative effects of the US election on Iran’s stock market will be temporary.
Although the election of Donald Trump as US president has stormed oil and gold markets, it seems that this will be a short-term impact on Iran's stock market.
According to the TSE website, more than 1.2 billion shares, valued at about $91.37 million (2.911 trillion rials based on official rate of 31,863 rials per USD), were traded within 85,684 transactions.
The Price Index lost 515.5 points or 1.83 percent to end at 27,687.2.
The First Market Index witnessed a fall by 1,119.6 points or 1.98 percent to 55,372.1.
The Second Market Index decreased by 2,629.4 points or 1.54 percent to reach 168,526.6.
The Industry Index decreased by 1360.5 points or 2.03 percent to stand at 65,571.8.