Tehran Stock Market Booming despite COVID-19 Pandemic

The current problems that the Iranian economy faces nowadays are big unemployment rate, low oil prices, as well as inflation. Last year the Iranian stock market has gained 225%, which is a great increase from the last few years.

The biggest struggles in the country are because of the Corona outbreak. The government encourages the privatization processes of state companies. Even the average person nowadays in Tehran has access to the stock market and everybody can trade shares or earn returns. The situation is similar in other countries as well. Even the USA faces the biggest unemployment numbers since the Great Depression.

Current Situation

A member of the Chamber of Commerce of Iran has mentioned that while the situation in Iran doesn’t seem good, the market is booming, but the stock market has its ups and downs, which is a very strange situation. That’s not the situation with the Tehran Stock Exchange. Since its beginnings in 1967, the stock market includes some of the major companies in Tehran, such as Iran Khodro, the famous car maker company. Even the average Iranian has noticed the rise of the stock market possibilities for the major Iranian companies.

Tehran Stock Market

The Stock Exchange Market lists more than half a million active traders. There are more than 12 million Iranians who have registered in the stock market to sell and buys stocks. As reported by Buy Shares, the estimated revenue is estimated to be 5% every day. Even president Hussein has mentioned the bright future of the Tehran stock market. The global situation on the stock marketplace is very chaotic, while the situation in the Tehran stock market seems to fall into place.

The booming stock market in Tehran is thanks to the company’s efforts and contribution to the current economic situation, the big shares of large Iranian corporations, as well as the business people in the country. Since the Islamic revolution in 1979, the Tehran stock market has undergone major changes. The 1990s in Iran are marked for the privation process and it’s the beginning of the privatization era in Tehran. The stock market has helped the Tehran economy to achieve this.

Results

This Saturday the main index of Tehran Stock Exchanges reached one million. It is almost doubled since the first Coronavirus case in the country. The biggest rally is between the companies in the petrochemical, industrial, and mineral stocks in the stock exchange market. Such companies are the National Iranian Cooper Industries, the Persian Gulf Petrochemical Industry, and the Mobarakeh Steel Co. The record in the stock market has boomed since the government has announced 2 billion state assets in order to provide a solution to the COVID 19 pandemic in Iran.