TEHRAN – As published on the Tehran Stock Exchange (TSE) website, 58.919 billion securities worth 351.381 trillion rials (approximately $1.171 billion) were traded on the exchange in the past week Iranian civilian (ending Friday, May 13).
As reported, 27.161 billion securities worth 178.394 trillion rials (approximately $594.646 million) were traded on the TSE, which is Iran’s main stock exchange, during the week ended May 6.
A market analyst estimates that the Iranian stock market may grow by 30% by the end of the current Iranian calendar year (March 20, 2023).
In an interview with IRNA on May 8, Ahmad Eshtiaqi highlighted the growth of the stock index and the factors affecting it and said, “It seems that corporate stocks still have room for growth. and according to forecasts, the stock market may grow by around 30% by the end of the year, but this growth will be gradual and slow.
The analyst noted that shareholders’ interest in the capital market in recent years has been driven by the value of company stocks, so when stocks still have room to grow, the stock index will rise. also.
The capital market expert further mentioned another factor influencing the rise of the stock index and continued, “World prices rose sharply after the war between Russia and Ukraine, and oil prices reached more than $100, and it affected the performance of some companies to some extent.”
He said that in addition to crude oil prices, prices for petrochemicals and metals like copper, zinc and other raw materials have risen.
Since the stock market is commodity-based, corporate and refinery stocks are also seeing significant growth in value, he said.
Apart from the above-mentioned factors, the stock offering of Iran’s major automakers, namely Iran Khodro and Saipa, also helped boost the capital market growth.
Asked about his view on the market trend over the current year, Eshtiaqi said, “Based on the forecast, it looks like the stock index will reach the 1.8 million point range by the end of the year. end of 1401.”
According to him, most of the market growth will occur by the end of Iran’s fourth calendar month of Tir (July 22) and will grow around 20% by then.
“If the nuclear deal is revived, we will see good days in the capital market and other parallel markets will not have much luck compared to the stock market,” he added.