TEHRAN, Iran, Aug.10
Trend:
Iran's stock index is rising due to new government's approach towards the capital market, Homayoun Darabi told Trend.
"Iran's new president is the second head of administrative power in past four decades that visited the stock market. The first president was Hashemi Rafsanajni and now Ebrahim Raisi," Darabi said.
"Prior to election, Ebrahim Raisi, paid attention to the stock market, and during his first interview after the victory, he has given promises about the capital market, and this triggered the growth in the market," he said.
"Following Raisi's election, the stock index was down to 1.1 million units and today its close to 1.453 million and we witnessed a 30-percent increase," he said.
"Other elements that affected the increase of the stock exchange index were: good condition of global market, oil price did not have a decline since it is summer. Also, the companies have provided good reports for the first three months of the year that caused an increase in the market," he said.
"The increase of foreign currency rate was good news for the companies in the stock market, since activity most of them are based on exports," said Darabi.