Iran’s TEDPIX rises by 1,500 points at Wednesday’s end
Date
7/18/2024 3:40:04 AM
(MENAFN) Wednesday saw the TEDPIX, the primary index of the Tehran stock exchange (TSE), rise by 1,545 points, reaching a total of 2,202,679. This uptick marked the fifth trading day of the Iranian calendar week, reflecting ongoing positive sentiment in the market. Among Iran's four key stock exchanges, the TSE holds a pivotal position, alongside the Iran Mercantile Exchange (IME), the Iran Energy Exchange (IRENEX), and the Iran Fara bourse (IFB), which serves as the over-the-counter market.
In late January, Mohammad Shirijian, deputy governor of the Central Bank of Iran (CBI), highlighted the imperative of diversifying financial instruments within Iran. He emphasized that the stock market currently fulfills this critical role by providing diverse financing tools. Shirijian underscored the necessity of reducing speculative activities among dealers by broadening the range of available financing mechanisms. He elaborated on the capital market's role in efficiently channeling capital towards productive endeavors, stressing the importance of directing financing towards enterprises to accelerate resource allocation and foster high productivity.
Shirijian's remarks underscored a strategic approach aimed at leveraging the capital market to enhance economic efficiency and support sustainable growth. This perspective aligns with broader efforts to strengthen Iran's financial infrastructure and stimulate investment in productive sectors, thereby contributing to long-term economic stability and development.
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