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Tehran Stocks Rise 25% in Fiscal 2017-18

Business & Markets Desk
Growing global commodity prices coincided with a devaluing national currency trend and boosted Tehran Stock Exchange and Iran Fara Bourse, more than half of which are made up of export-oriented firms
Over 262.9 billion shares valued at $12.86 billion were traded on TSE in the last fiscal year (ended March 20).Over 262.9 billion shares valued at $12.86 billion were traded on TSE in the last fiscal year (ended March 20).

Iran’s stock market had a good run in the last fiscal year (March 2017-18), as it witnessed several rallies and repeatedly extended its all-time highs.
In most instances, stars were aligned for equities. Growing global commodity prices coincided with a devaluing national currency trend and boosted Tehran Stock Exchange and Iran Fara Bourse, more than half of which are made up of export-oriented firms.
What put the brakes on these rallies was the ever-lingering shadow of political risks.     

It primarily hung over the landmark 2015 nuclear deal, otherwise known as the Joint Comprehensive Plan of Action, as US President Donald Trump repeatedly threatened to pull out of the multilateral accord. Coupled with sudden shifts in Iran’s monetary policies, stocks were in for a bumpy ride.
Still, TSE and IFB ended the year with solid gains, even though they couldn’t match those made in foreign exchange and gold markets.

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