TEDPIX surges over 4,600 points on Wednesday’s session end
Date
8/22/2024 7:54:42 AM
(MENAFN) On Wednesday, TEDPIX, the main index of the Tehran stock exchange (TSE), experienced a notable increase, rising by 4,653 points to reach a total of 2,037,207. This rise was recorded on the fifth day of the Iranian calendar week. The Tehran Stock Exchange, which is the primary Stock market in Iran, is one of the country's four major stock exchanges. The other three include the Iran Mercantile Exchange (IME), the Iran Energy Exchange (IRENEX), and Iran's over-the-counter (OTC) market, known as the Iran Fara bourse (IFB).
Majid Eshqi, the head of Iran's Securities and Exchange Organization (SEO), recently reported a significant increase in the capital of companies listed on the stock market. According to Eshqi, the capital of these companies grew by 5.0 quadrillion rials (approximately USD10 billion) during the previous Iranian calendar year, which ended on March 19. This increase represents a rise from 15 quadrillion rials (about USD30 billion) two years prior to 20 quadrillion rials (approximately USD40 billion) in the most recent year.
Eshqi expressed optimism about future capital formation, citing the formulation of necessary guidelines and the establishment of institutions outlined in the production financing law as crucial steps. He emphasized that addressing capital formation challenges is vital for the economy's overall health and sustainability. The government's efforts in this area are expected to play a significant role in enhancing economic stability and growth.
Earlier in June, former Finance and Economic Affairs Minister Ehsan Khandouzi highlighted a substantial increase in stock market financing in Iran, reporting a 100 percent rise in the previous Iranian calendar year. This doubling of financing through the stock market underscores the growing role of capital markets in Iran's economic landscape and reflects a robust trend in financial activity and investment within the country.
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