Tehran stocks ended the trading week with a bang, as both Tehran Stock Exchange and Iran Fara Bourse reached new highs on Wednesday's close.
The day's meteoric rise was rather unexpected on the surface, yet a long time in the making. A ballooning money supply, fast-devaluing currency in the unofficial foreign exchange market and the subsequent outflow of money into other markets such as housing, auto and gold were all setting up a springboard for stocks.
TSE's all-share index TEDPIX closed 2,767.58 points or 2.87% higher on Wednesday compared to the day before to reach a four and a half-month high of 99,414.5.
This is TEDPIX's highest single-day growth ever. And what's more, the index is now only about 500 points lower than its all-time high ...
June 13, 2018 19:03
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Tehran Stocks Rally to Reach New Highs
This is TEDPIX’s highest single-day growth ever, and what’s more, the index is now only about 500 points lower than its all-time high of 99,607
A ballooning money supply, fast-devaluing currency in the unofficial foreign exchange market and the subsequent outflow of money into other markets such as housing, auto and gold were all setting up a springboard for stocks
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