Tehran Stocks Rise Despite New Year Slump

Tehran Stock Exchange ended the very first trading week of the new fiscal year (March 2018-19) with solid gains and minimal trade volume, as investors returned from the extended holidays.
Traders traditionally refrain from selling in the early days of the year and this four-day trading week (markets were closed on Saturday) was no different. Trading volume stayed even lower than last year’s lethargic closing days. Upticks in key large-cap shares, however, buoyed the main index.
TEDPIX gained 649 points or 0.7% during the week that ended on March 28 to close at 96,938.9. The index had dropped about 1.4% during the previous trading week.
The TSE benchmark is currently at its 23-day high owing mostly to last week’s gains. It is far from its all-time high of 99,522 reached on Jan. 24 though.