Tehran Stock Exchange Index went up 90 units and reached 19,451 units on Saturday.
Tehran Stock Exchange's index had surpassed 19,000 on January 3 as the previous all-time high this year (to end March 21, 2011). Its former record before that was set on October 9, 2010, when 18,937.
Tehran’s capital market value stood at 870 trillion rials (some $84 billion), the Mehr News Agency quoted Hassan Qalibaf-Asl, the managing director of Tehran Stock Exchange (TSE), as saying in December 2010.
“The amount shows 34 percent increase in comparison to the beginning of current Iranian calendar year,” he added.
The TSE is Iran’s largest stock exchange. It is a full member of the World Federation of Exchanges and a founding member of the Federation of Euro-Asian Stock Exchanges. TSE has been one of the world’s best performing stock exchanges in recent years.
The most important advantage that Iran’s capital market has in comparison with other regional markets is that there are 40 industries directly involved in it. Industries such as the automotive, telecommunications, agriculture, petrochemical, mining, steel iron, copper, banking and insurance, financial mediation and others trade shares at the stock market, which makes it unique in the Middle East.
The second advantage is that most of the state-owned firms are being privatized under the general policies of article 44 in the Iranian constitution. Under the circumstances, people are allowed to buy the shares of newly-privatized firms.
Iran is among the few major economies that has maintained positive economic growth despite the 2008 global financial crisis
The world's fifth-largest oil exporter hopes to raise $12.5 billion by privatizing over 500 state firms during the 2010-11 year, and plans to sell all of its refineries and petrochemicals units, promising potential investors a solid return from the IPOs.
MRK/SJ
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MNA