Iran’s TEDPIX increases over 7,000 points on Monday’s session end
Date
8/20/2024 8:38:41 AM
(MENAFN) On Monday, TEDPIX, the primary index of the Tehran stock exchange (TSE), experienced a significant rise, gaining 7,484 points to reach a level of 2,038,042. This increase occurred on the third day of the Iranian calendar week, reflecting a positive trend in the market. The Tehran Stock Exchange is recognized as the most crucial of Iran's four stock exchanges, with the others being the Iran Mercantile Exchange (IME), the Iran Energy Exchange (IRENEX), and the Iran Fara bourse (IFB), which operates as the country's over-the-counter (OTC) market.
The Tehran Stock Exchange's prominence is underscored by its pivotal role in Iran's financial system. The other three exchanges—IME, IRENEX, and IFB—each serve specialized functions within the broader economy. IME handles the trade of commodities, IRENEX focuses on energy-related transactions, and IFB provides a platform for the trading of securities not listed on the TSE. Among these, TSE stands out due to its extensive market activity and its significant influence on Iran's economic landscape.
The head of Iran’s Securities and Exchange Organization (SEO), Majid Eshqi, recently highlighted the impressive growth in the capital of companies listed on the stock market. According to Eshqi, the total capital of these companies saw a substantial increase of 5.0 quadrillion rials, approximately USD10 billion, during the last Iranian calendar year, which ended on March 19. This growth is indicative of the expanding financial capacity within the stock market, further cementing its critical role in the country's economy.
Eshqi also emphasized the importance of continued efforts to bolster capital formation, a major economic challenge. He expressed optimism that the government's strategic initiatives, including the development of necessary guidelines and the establishment of institutions outlined in the production financing law, will effectively address this issue. By focusing on these areas, the government aims to strengthen the financial foundation of the economy, ensuring sustainable growth and stability in the stock market and beyond.
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