TEHRAN, Iran, June 12
Trend:
The overall index of the Tehran Stock Exchange (TSE) gained 1,100 points to 1.150 million, on Saturday, June 12, Trend reports citing Mehr News Agency.
The indices of Tehran Oil Refinery, National Copper Industry Co., Kourosh food industry Co. and Kavir Steel Co. had the most positive impact. The indices of Parsian Bank, Mellat Bank and MAPNA had the most negative impact.
Unprecedented fluctuations in the Iranian stock market over last year have led shareholders, experts, and scholars to call for the government to increase its support for the market.
Some shareholders want the government to guarantee the return of their stocks, some believe providing infrastructure is the best way to help this market.
Following the rising concerns over the market conditions, in early April, the Government Economic Coordination Headquarters, approved some new directives for regulating the stock market.
Also in late April, senior officials including parliament speaker Mohammad Baqer Qalibaf, Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati, Finance, and Economic Affairs Minister Farhad Dejpasand, and Head of Iran's Securities and Exchange Organization (SEO) Mohammad-Ali Dehqan Dehnavi gathered at the country’s parliament to explore ways for supporting the stock market and resolving its current issues.
After the mentioned meetings, SEO unveiled a new directive package dubbed “7+3” which includes allocation of one percent of the National Development Fund (NDF) resources to the stock market stabilization fund, lifting the ban on capital market financial institutions to use banking facilities, and granting five-year residency to foreign investors who buy shares in the Iranian capital market.
