Business And Markets

TSE Logs Highest Weekly Gain

TSE Logs Highest Weekly Gain
TSE Logs Highest Weekly Gain

While parallel markets were rather lukewarm in the last trading week, Tehran’s share market was in upbeat mode in the working week ending Wednesday.
The benchmark of Tehran Stock Exchange closed 6.8% higher  gaining 90,000 points to reach the critical 1.4 million points --  recording the best trading week since the beginning of current fiscal year on March 21, according to the Persian-language  economic website, Eqtesad News.
The upswing came as stocks recover from a long bearish trend that dominated the bourse for almost a year. The TSE’s benchmark, TEDPIX, gained about 300% in first five months of previous fiscal year ending August 2020, after which the bubble burst and the benchmark gave up half of the gains.   
Stock market rally in recent weeks is driven by a combination of factors, notably inflow of fresh liquidity by retail investors and cautious optimism arising from the change of government.


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