News ID: 271730
Published: 0221 GMT July 19, 2020

TSE main index hits new high

TSE main index hits new high

The Tehran Stock Exchange (TSE) kept advancing on Sunday with main index (TEDPIX) rising to new high of 1,864,949 points.

A total of 13.5 billion shares changed hands in two million exchanges in the TSE on Sunday, reported Fars News Agency.

The value of exchanges at Iran Fara Bourse, a subsidiary of the TSE for trading securities and other financial instruments, also witnessed a rise on Sunday.

Booming trade at the TSE comes despite expectations outside Iran that the country would face a dire economic situation due to the US sanctions and coronavirus outbreak.

In recent years, the Iranian stock market has been accompanied by various leaps, which have sometimes set world records.

One of the reasons why the TSE is still breaking records these days is the government's support for the capital market and encouraging people to invest in the stock market.

Directing manufacturing sector to apply new financial tools is one of the most important policies, which led to serious attention to the stock market.

Given the fact that the manufacturing sector needs a lot of capital and the banking sector fails to finance it all, big companies are after using new capacities in the capital market.

The massive influx of liquidity into the stock market has eliminated all the fundamental issues in this market's transactions and has caused the risks to reach their lowest level and leave no impact on preventing the stock market index from rising.

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