Iran: Stock Market Outperforms

In order to simplify the figures, TCCIM released data based on the base figure of 100 points in the fiscal 2016-17. Accordingly, the value of traded equities increased from 71.9 points during the first two months of the last fiscal year to jump to 479.2 points by May 21. 

Likewise, in terms of traded equities, the figure rose from 78.4 points during the corresponding period of last year to stand at 410.5 points during the first two months of the current fiscal year. 

The report, which compares the performance of several markets, indicates a 160.8% hike in the price of the benchmark Bahar Azadi gold coin during the period under review year-on-year, Financial Tribune reported.

Each Bahar Azadi gold coin on average sold for 47 million rials ($359) during the two months ending May 21 while it cost 18 million rials ($137) YOY. 

Homes in Tehran averaged 119.7 million rials ($9,151) per square meter during the period, up 108.1% compared with the first two months of the previous fiscal when a square meter averaged 57.5 million rials ($4,396). 

Consumer Price Index in the country, based on 100 points in the fiscal 2016-17, stood at 113.5 points during the two months of the previous fiscal year and jumped to 172.2 during the same period of the current year, indicating a 51.7% growth YOY. 

CPI for Tehran was a bit higher at 114.4 during the period to register a 50.5% annual growth.