Iran equity market rockets as Rouhani appears to win election

Baku, Azerbaijan, May 20

By Farhad Daneshvar – Trend:

While Iranian incumbent President Hassan Rouhani has apparently won a second presidential term, the main index of Tehran Stock Exchange (TSE) hiked 745.5 points or 0.93 percent to end trade at 81077.6 on May 20.

According to the latest announcement by Iran’s Interior Ministry, Hassan Rouhani has, so far, gathered over 22 million votes with his rival Ebrahim Raeisi securing about 15.4 in the country’s 12th round of presidential election.

Meanwhile, over 1 billion shares valued at $102.3 million (3.3 trillion rials) were traded for the day, the data on TSE website shows. The Price Index surged 251.2 points or 0.91 percent to end at 27781.3.

The First Market grew 373.9 points or 0.67 percent to post 56158.

The Second Market Index rocketed 2401.4 points or 1.35 percent to reach 180309.4.

The Industry Index grew by 635.6 points or 0.92 percent to stand at 69621.

The TSE 30 Index was up by 20.2 points or 0.65 percent to close at 3150.9, and the TSE 50 Index added 22.6 points or 0.73 percent to end at 3139.6.

The main index remained stable in the last trading week before Iran’s presidential election on May 19 closing at 80,344 for a gain of 0.3 percent over the week.

The 68 year-old Rouhani has promised to improve the country’s economic situation through opening Iran to the world. He has also pledged to give Iranians more freedom.