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Analyst: Iran's stock market trade to grow without any threats

Business Materials 26 July 2020 15:33
Analyst: Iran's stock market trade to grow without any threats

TEHRAN, Iran, July 26

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Trading at the Tehran Stock Exchange continues to grow and so far there are no signs of the index dropping down, stock market expert Amir Ali Bagheri said, Trend reports via IRNA.

"The last week's trade indicated the rise of share offerings and their prices that is necessary for the stock exchange transformation," said Bagheri.

The stock market index has reached 1.9 million units last week due to increase of share offering by big companies and decline of foreign currency rate, he said, adding that there were ups and down in trading.

"It has been predicted that in coming days the foreign currency rate would be reduced, and affect the trading at the stock exchange, which would lead to the index increase," he said.

"Stabilizing foreign currency rate would have serious effect on the capital market," Bagheri said.

"The most discussed topic among experts is the shares of exchange traded funds (ETF). The individuals that purchase the ETF shares have this presumption that these funds are supported by the government, so their prices would increase," he added.

"The government has not stated anything about increasing prices, it's expected that the government shares from public companies would get considerable growth that might not be in line with stock exchange foundation," he said.

"The government has not stated anything about increasing prices , it's expected that the government shares from public companies would have considerable growth that might not be in line with stock exchange foundation therefore the government shares would have transformation based on market," he said.

"The stock market traders have also considered the Iran and China 25 year agreement and the possibility Iran's oil sale without problem that would lead to competition to trade with Iran that effects stock market," he said.

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