Iran’s TEDPIX rises by 28,700 points on Wednesday’s end
(MENAFN) On Wednesday, the TEDPIX, which is the main index of the Tehran stock exchange (TSE), saw a notable increase of 28,792 points, reaching a total of 2,788,214. This marks the fifth day of the Iranian calendar week. The Tehran Stock Exchange is the largest and most significant of Iran’s four stock exchanges, the others being the Iran Mercantile Exchange (IME), Iran Energy Exchange (IRENEX), and the over-the-counter market, Iran Fara bourse (IFB).
A market analyst had previously highlighted that Iran’s Stock market had experienced positive momentum throughout the past month. This uptrend was attributed to several factors, including a reduction in interest rates, the removal of price controls, and supportive actions from the Ministry of Economy and the Securities and Exchange Organization (SEO). Ali Pazaki, a capital market expert, pointed out in an interview with IRIB that one of the main drivers behind the recent market improvement was the shift from the NIMA exchange rate to a negotiated exchange rate. He explained that since many listed companies are export-driven, this change had significantly boosted their profitability.
Pazaki further noted that the government's decision to lift mandatory price controls had a particularly positive effect on industries such as automotive firms. He explained that automakers, which had previously faced regulated pricing, benefited from the ability to price their products based on supply and demand, particularly through the commodity exchange. This shift had improved the financial performance of automakers and parts manufacturers alike.
In addition to these factors, Pazaki attributed the positive stock market performance to reduced systemic risks and a decrease in regional tensions. These conditions have created a more stable environment, allowing investors to make informed decisions based on economic indicators rather than external uncertainties.
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