TEDPIX Goes Beyond 113,000

Tehran Stock Exchange’s main index gained 1,974.35 points or 1.76% on Sunday to end trading at 113,852.3.
The benchmark’s strong growth came after Saturday’s leap of 2.83% after it was reported that the government was embarking on “pumping FX to Secondary Market” and that the Money and Credit Council has decided to limit the 42,000-rial USD to imports of essential goods and drugs, and channel all FX earnings from non-oil exports to the secondary market.
Though no official comment has been made so far to confirm the reports, by the market’s open on Saturday, petrochemical, steel, iron, copper and aluminum stocks as well as those of whatever investment company that has shares in them were selling like hot cakes.
About 1.71 billion shares valued at $147.21 million changed hands at TSE for the day.