Rising money supply in the stocks market is giving credence to a positive outlook, with Tehran Stock Exchange seeing its biggest gains in weeks recovering from a volatile period.
Tehran Stock Exchange's all-share index, TEDPIX, gained 2,452 points or 2.25% during the week that ended on June 27 to close at 111,325. This brings the benchmark's return since the beginning of the year (March 21) to 15.6%.
Over 14.02 billion shares valued at $795.3 million were traded on TSE last week. The number of traded shares and trade value surged by 152% and 150% compared to the week before last.
Fresh money also continued to warm up stocks trading as non-block daily trading reached up to $219 million, highlighting equities' growing attraction for investors.
TSE’s First Market Index gained 2,048.5 points or 2.57% to end at 81,654.5. The Second Market Index rose by 3,605 points or 1.64% to close at 223,360.
TEDPIX gain in weekly trade has put the index over all other global exchanges.
This is while Chinese stocks were the biggest losers during the same period, with Hong Kong’s Hang Seng tumbling 1.8 percent to 28,356.26. The Shanghai Composite Index sank 1.1 percent to 2,813.18. The index is the worst performer among major markets this year, losing 14 percent since the start of this year.
Release Date: 7/17/2018