Tehran Stock Exchange main index posts 99.4% gain since March
The Tehran Stock Exchange main index (TEPIX) has gained 99.4 percent since the beginning of the current Iranian calendar year (March 21, 2013). The TEPIX hit 76,000 on Wednesday.
Trading volume for the week ended on Wednesday reached 107.824 billion shares worth over 596 trillion rials (about $23.7 billion based on the U.S. dollar official exchange rate of 24,900 rials), the Mehr News Agency reported.
In January, the chairman of Iran’s Securities and Exchange Organization, Ali Salehabadi, said that the total value of Iran’s capital market, including the Tehran Stock Exchange and the over-the-counter markets, is half of the gross domestic product (GDP).
Founded in 1967, the Tehran Stock Exchange (TSE) 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 the Middle East in 2010 in terms of performance of the main index.
The TSE’s annual growth rate of main indices also ranked second among all members of the World Federation of Exchanges (WFE) in 2010.