TEDPIX increases by 14,063 points on Tuesday’s session end
Date
11/20/2024 3:26:08 AM
(MENAFN) On Tuesday, the main index of the Tehran stock exchange (TSE), TEDPIX, rose by 14,063 points, reaching a total of 2,269,515. This marks the fourth day of the Iranian calendar week and highlights a positive performance for the TSE, which is considered the most significant stock exchange in Iran. The TSE stands as one of the country's four main stock exchanges, alongside the Iran Mercantile Exchange (IME), the Iran Energy Exchange (IRENEX), and the over-the-counter market, known as the Iran Fara bourse (IFB).
In mid-September, Hojatollah Seyedi, the head of the Iran Securities and Exchange Organization (SEO), outlined the organization’s plans to ensure that both direct and indirect interests of the stock market are taken into account in the upcoming year's budget bill. He emphasized that the SEO was taking special measures related to the budget, which would impact the capital market. Seyedi noted that enhancing the efficiency of the stock market is a primary goal of the SEO under the current government administration.
Seyedi stressed that in the 14th government, the SEO’s mission is focused on protecting shareholders' rights, facilitating capital formation, and improving the stock market's efficiency. He pointed out that the capital market in Iran holds significant potential and is poised for substantial growth. According to Seyedi, the country has the necessary infrastructure, including a strong workforce, capable investors, and skilled managers, all of which provide a solid foundation for the market to develop further.
The SEO head expressed confidence that with these resources in place, Iran’s capital market could grow substantially, potentially reaching a gross domestic product (GDP) contribution of USD300 to USD400 billion. Seyedi emphasized the need for bold actions to achieve this ambitious target, affirming his commitment to playing an active role in the country's development through the growth of the capital market.
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