Tehran stocks posted the best monthly trade in ten months in the calendar month ending July 21 as share market picks up slowly and retail investors return.
The main index of Tehran Stock Exchange, TEDPIX, reached 1,311,000 points at the final trading session of last month on Monday, up 12.2% compared with June 21 when TEDPIX was at 1,168,592 points.
This was the highest monthly growth in ten months. The TEDPIX eked out 1% gain during the month to June 21. A month before it had declined 6.7%.
Keeping pace with the market cap-weighted TEDPIX, the equal-weighted index gained 9%, indicating that small caps are also recovering, according to the Persian-language economic news website Eqtesad News.
Retail investors are making a comeback as seen in the capital inflow and increase in value of deals. In 20 trading sessions last month, the market experienced net capital inflow by retail investors in 15 sessions as they injected an average 760 billion rials per ($3 million) day compared to the average 2.96 trillion rial ($12m) in net capital outflow in the earlier month.
Value of trade handled by retail investors reached 1,294 trillion rials ($5.4 billion) last month with average daily trade at 64.7 trillion rials, indicating a 69% growth compared to the month before.
