Tehran Stock Exchange index hits all-time high

Tehran Stock Exchange index hits all-time high
Sat Jul 6, 2013 19:24:49

The main index of the Tehran Stock Exchange (TSE) has set a new record, surpassing the 54,000 unit mark for the first time.

In Saturday’s trade, the TSE hit a record high of 54,042 points in the morning session, making a leap of 1,554 points from Thursday.

Reports say the record came as a result of a surprise rush by online traders.

The rise in TSE trades has been attributed to industrial heavyweights Persian Gulf Petrochemical Industries Company, Mobarakeh Steel Company (MSC), Gol-Gohar Mining and Industrial Company, Isfahan Oil Refining Company, National Iranian Copper Industries Co., Parsian Oil and Gas Development Co. (POGDC) and Chadormalu Mining and Industrial Company.

Major Iranian industries are directly involved in the TSE, making it unique in the Middle East.

Founded in 1967, the Tehran Stock Exchange has been one of the world's best performing stock markets in recent years and ranked as the best bourse index in Europe, Africa and Middle East in 2010 in terms of performance of the main index.

The TSE's annual growth rate of main indices was also ranked as second best among all members of the World Federation of Exchanges (WFE).

The WFE is the association of 52 regulated exchanges around the world which aims to develop and promote standards in markets.
 

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