Tuesday, February 7, 2023

Tehran Stock Exchange Index Hits Record High of 900,000 Points

The benchmark Tehran Stock Exchange (TSE) index managed to break above its all-time highs hitting over 900,000 points.

The index gained an unprecedented 38,481 points to stand at 916,583 units on Saturday and the market value on the Tehran Stock Exchange reached more than 34,390 trillion rials (about $7.5 billion).

According to experts, the main reason for the unprecedented increase in the stock market index and its record-breaking is the influx of stray liquidity into the stock market and the pressure to buy stocks of limited companies on the stock exchange and over-the-counter.

Also trading permission granted for “Justice Shares” held by low-income Iranian families and the initial offering of major state-owned companies as well as the four-time return of the stock market index over the past year have led people to invest in this market.

Some economists warn that people should avoid emotional behaviour in the stock market and be careful, as risk is a natural part of the stock market.

On the other hand, the recession in parallel markets such as real estate, gold, foreign currency and cars has led people to invest in the stock market. Therefore, the managers of listed and over-the-counter companies should seize the opportunity to issue securities to implement development projects and new investment projects.

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