Tehran Stock Exchange Index Sets New Record in Iran’s Bourse History

The Tehran Stock Exchange index reached above 311,000 points on Monday with a 3.1 percent increase compared to the previous day, marking the highest figure in the history of Iran’s bourse.

According to statistics from the official website of the Tehran Stock Exchange, more than 480,000 trades took place in the stock market on Monday.

Petrochemical companies, energy industries, and metals sectors had the most significant impact on the increase in the stock exchange index.

The stock exchange index rose from below 100,000 points in late 2017, to around 180,000 points at the beginning of the current year, and has peaked above 311,000 points over the past six months.

Certainly, during this same period, the dollar has also surged from 4,700 tomans to 11,400 tomans. Many major stock market companies are export-oriented, and the increase in the dollar’s price raises their rial-denominated revenues.

Domestically, the prices of these companies’ products have also increased in rial terms, given the high inflation rate of over 40 percent.

Thus, the value of their shares in rials has also increased, causing the index to peak.

Source: Radio Farda