As reported, 1.821 billion securities worth 5.49 trillion rials (about $130 million) were traded through 100,000 deals in a day.
Also, IFX, the main index of Iran's over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), rose 37.6 points to stand at 1,191 points on Sunday.
As reported, 613 million securities worth 1.26 trillion rials (about $29.8 million) were traded through 58,000 deals in a day.
Shares in different groups of commodities including base metals, chemical products, and minerals witnessed stable status of purchases on Sunday.
As reported, indexes of Mobarakeh Steel Company, Golgohar Mining and Industrial Company, and Persian Gulf Petrochemical Industries Company were among those indices accounting for the highest amount of rise in the TEDPIX.
The historical increase in the stock exchange index had begun on June 13 (the last working day of the previous Iranian calendar year), which was named ‘Golden Wednesday of Stock Market’, when TEDPIX gained 2,767 points to stand at 99.146 points.
As reported, 1.66 billion securities worth 4.355 trillion rials (about $103.19 million) were traded through 121,965 deals in a day.Also, IFX rose 37 points to stand at 1,153 points on Wednesday.
Some 412 million securities worth 1.856 trillion rials (about $43.98 million) were traded in IFB in a day.
Index growth beyond anticipation
Rise in stock exchange indexes was anticipated given the recent issues related to the political and economic status of the country, but a 2,767-point growth in a single day was beyond the expectations.
The experts of capital market say some factors such as turbulences in the markets of foreign currency, gold coin, and housing and also entrance of new liquidity is the main reason for such unprecedented rise.
In an interview with IRNA on Saturday, Ehsan Rezapour, an expert in economic and capital market issues, said: “Due to the high amount of liquidity in the country and existence of many risks for business during the recent months, many turbulences have been witnessed in different markets, as it happened in terms of foreign currency, gold coin, and housing.”
For the index growth on the ‘Golden Wednesday’, the expert said: “In the past week, the officials announced their determination for controlling different markets, which brought the attention to the stock market. Also, on Wednesday morning, it was reported that the companies have been allowed to sell the dollar receive from exports at the price of over 60,000 rials, which could bring more profit for the bourse companies.
Also, Ebrahim Khalili, another capital market expert, told Tasnim news agency: “After turbulences in different markets such as housing, car, foreign currency, and gold markets, and increasing trend of prices in these markets over the past months, we are gradually seeing some balance returning to these markets, therefore; some part of liquidity will come to the stock exchange market.”
Delayed effect of inflation on capital market
“Moreover, after each period of inflation in the country, the effect of raised prices will be received by the capital market with some delay, and we are witnessing the effect of inflation imposed on the country’s economy over the past months on the capital market now”, Khalili further explained.
He also mentioned the decrease in the value of bourse companies’ shares in the past months as one of the other reasons that the capital market welcomes entrance of liquidity at the moment and said: “Liquidity has enough excuses to enter the capital market now.”
Now, while the stock exchange indexes are experiencing unprecedented growth, the experts say that as the capital market is one of the specialized markets that presence in it requires knowledge, experience, and consultancy, the investors should not make investment just based on the growth occurred in the indexes and they should also prevent from excitement in the capital market through proper information dissemination.
MNA/TT