TEDPIX Rises 1%, IFX Up 3%

Tehran Stock Exchange’s main index TEDPIX gained 909.5 points or 1.04% during the second week of the month that ended on Nov. 1 to close at 87,844.9.

The benchmark index is currently standing at its 45-month high.

The main index of the smaller over-the-counter exchange Iran Fara Bourse IFX also added 28.2 points or 3% during the week to end at 975. IFX is at its all-time high.

Trading at Iran’s stock market starts on Saturday and ends on Wednesday.

Over 3.76 billion shares valued at $257.8 million were traded on TSE last week. The number of traded shares and trade value dropped by 20% and 5.66% respectively.

TSE’s First Market Index gained 1,278.2 points or 2.12% to end at 61,532. The Second Market Index rose by 354.9 points or 0.18% to close at 191,648.

At IFB, more than 1.2 billion securities valued at $214.8 million were traded. The number of traded shares dropped by 28% while trade value was up 28%.

Its First Market witnessed the trading of 128 million securities valued at $5.12 million, up 57% and 43% in traded shares and trade value respectively.

About 470 million securities valued at $42.95 million were traded in the Second Market, dropping 11% in number of shares traded and growing 14% in trade value.

Over 5 million debt securities valued at $115.8 million were also traded at IFB, growing 43% and 47% in number of bonds traded and their value.

The head of Securities and Exchange Organization is positive the stock market is set to grow further down the road.

“All the factors and companies involved [in Tehran Stock Exchange] are on course to bring about more growth for the [benchmark] index,” Chief Executive of Securities and Exchange Organization Shapour Mohammadi was quoted as saying over the past week.