EghtesadOnline: The benchmark of Tehran Stock Exchange reported a whopping 100% growth during almost nine months since the begging of the current fiscal year (March 2019).
Investors bought 749 billion shares and securities with a total value of 2,797.39 trillion rials ($21.6 billion) up until the last trading session on Wednesday.
According to data compiled by IBENA, the shares were traded in more than 69.58 million deals conducted in 182 trading days.
The main index of TSE TEDPIX rose from 178,659 points at the onset of Persian fiscal year to reach 361,088 points as of December 25, up 102.11%, showing the benchmark has doubled during this period, according to Financial Tribune.
The dramatic growth in Iran’s stock market has been ascribed to multiple factors, namely, inflow of fresh liquidity, lackluster performance of parallel market and increase in the number of stock investors.
Disappointed by poor returns on gold, foreign currency, auto and house markets, investors in the past few months have turned to the capital market as a safe haven.
In this period, more than 65.7 million securities worth 63.52 trillion rials ($490.5 million) changed hands in 21,204 deals in the debt market.
In the debt market host investors’ trade in participatory bonds, certificates of deposit and Islamic sukuk securities.
In the derivatives market, where financial instruments like futures contracts are traded, 1.61 trillion rials ($12.44 million) worth of contracts changed hands in 91,752 deals.
The volume of contracts traded in the derivatives market was 215.7 million.
In addition, a total of 17.56 billion units of exchange-traded funds with a total value of 184.37 trillion rials ($1.4 billion) changed hands in more than 572,213 deals.
ETF is a basket of securities traded on an exchange similar to stocks. A basket of shares represents an ETF unit.
Presently, there are 42 ETFs operating in the capital market.
ETFs hold multiple underlying assets, rather than only one. An ETF can own hundreds or thousands of stocks across various industries, or it could be focused on one particular industry or sector.