IFX rises 185% in 5 months on year
IFX, the main index of Iran’s over-the-counter (OTC) market, known as Iran Fara Bourse (IFB), rose 185 percent during the first five months of the current Iranian calendar year (March 20-August 21), compared to the same period of time in the past year.
As reported by IRNA, the index stood at 18,778 points at the end of the fifth month.
During the fifth month of this year 59.833 billion securities worth 1.367 quadrillion rials (about $32.547 billion) were traded through 34.288 million trades, indicating 97 percent, and 650 percent rise in the number and value of trades, and a 545-percent growth in the number of trades, compared to the fifth month of the previous year.
IFB is one of the four major stock exchanges of Iran. The other three ones are the Tehran Stock Exchange (TSE), Iran Mercantile Exchange (IME), and Iran Energy Exchange (IRENEX).
The past Iranian calendar year (ended on March 19) witnessed a very fruitful performance for the country’s stock market.
As TSE Head Ali Sahraei has announced, the value of trades at the Tehran Stock Exchange jumped 2.6 folds, while Return on Investment (ROI) reached 180 percent in the previous year.
While growth and development in the Iranian stock market have occurred in recent years, the previous year was in fact a time of flourishment for the country’s stock exchanges.
Different factors contributed to the past year’s prominent success in the stock market.
One important factor was proper ground laid in the stock market and providing better conditions for traders.
The other factor was the status of parallel markets, such as those of foreign currency, gold coin, and housing in the past year that made making investment in the stock market an obviously better and more profitable choice for the investors.
source: TehranTimes
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