Tehran, Iran, Oct. 31
By Milad Fashtami - Trend:
Some $6.25 billion have been injected into Iran's stock market from the beginning of the current Iranian calendar year (ended on March 20) so far.
Ali Salehabadi, chairman of the Iranian Securities and Exchange Organization, said that the organization is in talks with the oil ministry to reach an agreement over the situation with the country's refineries in the stock market, Iran's Mehr News Agency reported on Oct. 31.
"We have not agreed on a formula to determine the quality of refineries yet," he noted.
Iran's SHANA news agency reported on Oct. 29 that Tehran Stock Exchange market capitalization amounted to $105 billion at the end of the past Iranian calendar month.
The figure showed a 5-percent fall compared to the same period in the previous year.
USD exchange rate in Iran is currently about 32,000 rials.
Chemical companies group topped the market capitalization list, with $24 billion in value, followed by financial institutions group and metals groups, with $11.5 billion and $11 billion in value, respectively.
Iranian Minister of Economic Affairs and Finance Ali Tayebnia has ordered insurance companies and major banks to support the country's capital market.
Bank Melli Iran, Bank Mellat, Bank Sepah, and Tejarat Bank are supposed to inject some 40 trillion rials (some $1.33 billion based on the exchange rate of USD at the free market) to the Capital Market Development Fund.
Founded in 1967, the Tehran Stock Exchange has been one of the world's best performing stock markets in recent years and has ranked as the best bourse index in Europe, Africa and Middle East in 2010 in terms of performance of the main index.
The TSE's annual growth rate of main indices was also ranked as the second best among all members of the World Federation of Exchanges (WFE).
The WFE is the association of 52 regulated exchanges around the world, which aims to develop and promote standards in markets.
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