TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), gained 12,554 points to 1.449 million on Tuesday.

As reported, over 6.855 billion securities worth 48.147 trillion rials (about $1.146 billion) were traded at the TSE.

The first market’s index rose 12,622 points, and the second market’s index gained 14,574 points.

TEDPIX fell 6.5 percent in the past Iranian calendar week (ended on Friday).

The index lost 91,000 points to close at 1.397 million.

During the past week, the indices of Social Security Investment Company, Bandar Abbas Refinery, Isfahan Refining Company, Sepid Makian Company, and Barekat Pharmaceutical Group were the most widely followed ones.

Capital market analyst, Soheil Kolahchi, believes the stock market is going to be able to compete with other parallel markets for bringing positive returns to investors in the second half of the current Iranian calendar year (September 22, 2021-March 20, 2022), IRNA reported.

Stating that the stock market can be one of the suitable markets for investment in the second half of the year, Kolahchi said: “The capital market can provide an acceptable return to shareholders and experience good growth compared to other parallel markets by the end of the year.”

“The stock market can grow by the end of the year as the prevailing environment for investing in other parallel markets (including the forex, gold, and housing markets) is calm and nothing special is going to happen in any of them,” he explained.

Emphasizing the sharp decline in the number of deals in the housing market in recent months, Kolahchi noted: "The foreign currency exchange market is also experiencing slight fluctuations.”

The capital market expert continued: "Due to the existence of such conditions, the capital market takes the same path as other markets and takes a slow path to ascend. This market will be accompanied by many ups and downs in its path but eventually, it moves upward.”

"It seems that the cement industry and the banking group can be suitable industries for investment and provide bigger returns by the end of the year; therefore, we can pay special attention to these groups compared to other industries for investment,” he added.

Back in July, Market Analyst Mostafa Safari had said that trades in the Iranian stock market will be much better and more reasonable in the second half of the current year, compared to the first half of the year.

Safari had mentioned the support programs carried out by the government as a positive factor that has impacted the trades in the stock market, saying that such measures have ensured the growth of the market in the future.

He pointed to the upward trend of the market and noted: “Despite the fact that the market has always experienced some decline in the last two months of summer, this summer the positive news over the nuclear deals and the prospects of lifting the sanctions pushed the marked up.”

MA/MA