Tehran Stock Exchange main index (TEDPIX) recorded the highest return on investment compared to the main index of global capital markets in the UAE, Saudi Arabia, Turkey, USA, Germany, France, Britain, Spain, Japan, and China in autumn.
TSE closed the first nine months of the current fiscal to December 19 with a return of 62% on investment, making it the top-performing capital market.
According to Stock and Exchange News Agency, the Mumbai Stock Exchange ranked second and gained 10.8% return for its main index, BSE30, but kept safe distance from TSE. BSE was followed by Saudi Stock Exchange, which recorded 1.9% return on it its main index, Tadawul.
This is while the Shanghai Stock Exchange registered the lowest return in autumn and closed at -22.3% returns, ranking as the worst-performing market.
This is followed by UAE stock market and its Dubai DFM with a return of -20.1%. Also, Istanbul Stock Exchange was the third worst-performing stock market with -20.1% by the end of autumn.
The main index (TEDPIX) surpassed the support level of 160,000 points in the first half of the current fiscal, registering 66% return on investment, an indication of the increasing appeal of the market to investors.
According to the Securities and Stock News Agency, TEDPIX stood at 157,000 points on the last day of summer (Sept.22). The figure dropped to 156,000 points on the last trading day of autumn, witnessing a subtle loss of 0.8% during the three-month period.
The results of the Iranian stock market come at a time when the country is grappling with tough US sanctions.
Iran’s economy has struggled since US President Donald Trump pulled out of the 2015 nuclear accord in May and re-imposed sanctions, including restrictions on oil sales — the country’s lifeline
The national currency, has depreciated by more than 50 % this year while year-on-year food prices have increased by about 60%, according to the Central Bank of Iran.
Related
- Tehran Stock Exchange Top Performer Among WFE Members
- Tehran Stock Exchange 9-Month Return at 62% (Mar-Dec 2018)
- Iran Securities and Exchange Organization's Place Elevated in IOSCO
Minimum Days, Highest Returns
Reviewing the performance of major stock markets indicates that TSE had fewer working days (179 trading days) since the beginning of the year compared with other markets. Despite this, it managed to record the highest positive sessions among its peers.
TSE data shows that the oil and gas extraction industry plus its sub-services (except for exploration) was the top-performing industry with a return of 159.5%. Wood products industry ranked second, emerging as one of profit-makers in the market. Also, the metal ore extraction industry was the third best-performing with the 141.5% return.
Among the main reasons for the fall in global markets globally is the Sino-US trade war. America and China started a trade war this year, the world’s worst such dispute in decades. America imposed tariffs on $250 billion worth of Chinese products; China responded with tariffs of its own. America also slapped duties on steel imports from Europe, Canada, Mexico and elsewhere, infuriating its allies.
Caption: TSE closed the first nine months of the current fiscal to December 19 with a return of 62% on investment.
