In the Iranian media showed that the main index in the Tehran Stock Exchange (TSE) had hit an all-time high of 409.962.25 points. an increase of 2.63% or 10.517 points for TEDPIX compared to the previous day of trade.
That came as TSE’s price index. known as TEPIX. also rose 3.28% to hit 126.014 points.
Total value of shares in the TSE reached 14.908.299 trillion rials (over $110 billion). said the reports. adding that trades in the first day of the Iranian week reached a total of 692.893 times for 9.266 billion shares worth of 39.855 trillion rial (nearly $300 million).
The boom in trade comes as more Iranian households tend to view shares as a safe way of protecting their savings against fluctuations in the market.
The government has also played a role in the surge by selling bonds known as sukuk which are seen by many as a form of high-yield investment.
Experts have described the surge as surprising given the current economic situation in Iran and the fact that the country is under a harsh regime of sanctions imposed by the United States.
TEDPIX. the main index at the TSE. was hovering around 90.000 points in 2015. when Iran was relieved of a previous round of international sanctions which had been imposed over its nuclear program.
Also on Saturday. the Central Bank of Iran (CBI) launched its first round of trades for bonds under its newly initiated open market operation (OMO) policies.
Reports said the purchase by CBI of bonds offered by major banks and financial institutions began earlier in the day at Fara Bourse (IFB). a small-cap market. where the total index increased 165 points to reach 5.276 on Saturday.
The total value of trade at IFB also hit 30.133 trillion rials (over $223 million). said the reports.
Late in August. reports showed that Iran’s economy had found its way under pressures with increase in stock exchange market. 16 months after US President Donald Trump unilaterally withdrew from nuclear deal and imposed Washington’s unilateral sanctions against Tehran.
TEDPIX. the main index in Tehran Stock Exchange (TSE). rose 1.31 percent to 278.469 points while the price index TEPIX was also up 1.31 by gaining 967 points to stand at 74.844.
A total of 4.401 billion shares were traded in the TSE in 420.000 times of exchange on Tuesday with an overall value of 17.340 trillion rials (over $155 million). said a local media.
Earlier in August. Iranian First Vice-President Eshaq Jahangiri underscored that the measures and plots hatched by Washington to lead Iran`s economy into collapse have all failed.
We have been able to defeat the US plots with the strategy of resistance. Jahangiri said. addressing a ceremony in the Northern city of Noshahr.
The US threatens the foreign governments and companies (not to cooperate with Iran) but it has not been able to attain its most important goal. that is the collapse of Iran`s economy. he added.
In relevant remarks in July. Jahangiri stressed that his country`s economy had remained stable one year after the US imposed the toughest embargos against Tehran.
The US imagines that it can zero down our oil sales by exerting pressure on the countries which purchase Iran`s oil to lead Iran`s economy towards a collapse. but fortunately. the situation of Iran`s economy enjoys an acceptable stability one year after the US oil sanctions. Jahangiri said in a meeting with Head of the International Liaison Department of the Communist Party of China Song Tao in Tehran.
He described China as the main economic partner of Iran and oil customer. and said. All high-ranking Iranian officials have put the strategy to develop ties with China on their agenda as a serious mechanism.