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TSE experiencing steady rise to record high

Business Materials 22 November 2017 23:30 (UTC +04:00)

Tehran, Iran, November 22
By Mehdi Sepahvand –- Trend:

Tehran Stock Exchange (TSE) experienced a steady rise in the eighth Iranian month of Aban (Oct. 23 to Nov. 21) towards its record high of 89,500 points.

The main index stood at 88775 Nov. 21, then to see a great rise of 564.5 points or 0.64 percent, to end the trades at 89339.1 on Nov. 22.

The main point that is to be kept in mind all the time is the low amount of trade. In such circumstances when the overall stock values rise but the total trade is low, there is the possibility that the whole ivory shatters with a negative impulse from outside.

The TSE proved impervious during the aforementioned month to threats from the United States, when President Donald Trump announced a tougher approach to Iran and urged Congress to consider new sanctions on the Islamic Republic.

A view of the market during the period shows that liquidity has been leaving TSE, making this the second month in the current Iranian year (which started March 21) in which TSE grows while no new money is poured in.

The last time such situation occurred was in the month corresponding to Aug. 23 to Sept. 22.
The main contributors to the rise of TSE are summarized as increasing prices of goods in the global market, goods such as oil, petrochemicals and minerals, as well as the rise of the USD against the Iranian rial.

The dollar gained 2 percent value during the last Iranian month, now standing at around 41,000 rials in the free market.

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