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Tehran Stocks Rise Despite New Year Slump

Business & Markets Desk
Tehran Stocks Rise Despite New Year SlumpTehran 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.

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