Economy, Business And Markets
0

Tehran Stock Exchange Trade Gains 3.35%

TEDPIX Trade Gains 3.35% TEDPIX Trade Gains 3.35%

Tehran Stock Exchange’s main index gained 4,764.26 points or 3.35% on Monday to end trading at 146,998.7.
The record jump was most likely caused by the relative price adjustment of corporate stocks, the termination of fluctuations in rival markets (such as gold and forex markets), stability of global prices and rumors of Iran Mercantile Exchange eliminating price ceiling for steel products. 
At present, steel products are allowed 15% fluctuations on IME, but the induction of two new steel ingot providers into IME and the readjustment of price ceiling for other base metals led investors to believe that good news regarding steel will come soon, according to Donya-e-Bourse's analysis.
The jump, although led by large-scale industries of base metals, petrochemicals and oil products, was not limited to these industries as 37 out of the 38 industries listed at TSE had positive impacts on the index, with the exception of paper products, meaning new capital is being injected into the market and new players are appearing on the scene.
 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com