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Code: 49744 Visited: 154 Publish Date: Jun 13 2018 - 1:05
https://goo.gl/ZyA6eh
Capital Market
Markets Rallied Over 2%
Tehran, June. 13 (SENA) - Tehran Stock Exchange’s Main Benchmark TEDPIX, as the main index of Iran capital market, rose 2,767 or 2.87% today to reach 99,146, just a few steps short of its all-time psychological level of 100,000.

Tehran, June. 13 (SENA) - Tehran Stock Exchange’s Main Benchmark TEDPIX, as the main index of Iran capital market, rose 2,767 or 2.87% today to reach 99,146, just a few steps short of its all-time psychological level of 100,000. The markets were worried about the possible US pull-out from the nuclear deal and the investors’ sentiment was bearish, but immediately after President Trump’s decision to walk away from the deal, the markets bounced back from 92,849 and today recorded the biggest jump.

The analysts believe the fresh money from the money market is the main cause. Mohsen Abbasi, a market analyst, mentioned that value and volume of the trades in the past couple of days had signalled a strong movement. The banks are reluctant to offer high rates on current deposits and investors have difficulty finding a substitute investment that is not already in a bubble state i.e. gold, real state and even auto.

Mohammad Ehterami, a market expert, also believes that TEDPIX is to surpass the 100,000 level and the growth is expected to continue during the current Iranian year (started March 20). “If the price of the oil hovers around the current level of $60 per barrel, petrochemical and refinery companies, which comprise a considerable portion of Iran capital market, will record an outstanding performance,” he added.

All the analysts believe that the markets have become indifferent to any political news and only follow the local economic trends.

 

 
By: Security and Exchange News Agency (SENA)
 
 
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