Tehran Stocks Log 2nd Weekly Gain

EghtesadOnline: After gains a week before, Tehran stocks ended the last trading week higher amid noticeable increase in the participation of retail investors.

News ID: ۷۸۷۵۴۳

01 January 2022

In choppy trade ending Wednesday, the benchmark of Tehran Stock Exchange, TEDPIX, gained 380,000 points and climbed 2.7%.

With hopes rising about a market recovery, retail traders showed new interest in the long-struggling bourse as seen in the increase in trade value.

Average retail trade reached 31.79 trillion rials ($109 million) last week – up 29% compared with average daily trade in the previous week.

The rally kicked off soon after the Economy Minister Ehsan Khandouzi announced a package of 10 measures to help shore up the lethargic share market.

He said the support program includes measures to inject liquidity into the market stabilization fund, help improve profitmaking of listed companies and limit the government’s bond sales.

The measures are seen as the latest attempt by the Raisi administration to rescue the share market that has been battered since the past year and a half. The new measures have spurred hopes for the return of millions of retail investors to the once lucrative bourse.

Caption: The benchmark of Tehran Stock Exchange, TEDPIX, climbed 2.7% in the week.