Iran’s stock market surges to record high; analysts warn of bubble – Middle East Monitor

Iran’s primary stock index broke through the crucial 2 million point mark for the very first time ever on Sunday, in the middle of cautions that the market is overheating, reported Reuters

The Tehran Stock Exchange’s benchmark TEDPIX index acquired 46,844 points in early trading, the authorities IRNA news firm stated, up 2.4%.

The index closed at 1,961,649 on Saturday after rising by over 57,325 points, or 3.01%, on the day, according to the Tehran Stock Exchange (TSE) site.

Iran’s clerical rulers have actually been motivating common Iranians to purchase regional stocks to increase the nation’s economy, which has actually been hard struck by the reimposition of United States sanctions over Tehran’s nuclear program.

Analysts and some legislators, nevertheless, have actually alerted that the relocation may raise the danger of a stock market bubble as the increasing market is at chances with Iran’s degrading financial basics, which are likewise feeling the effect of the coronavirus break out. Iranian authorities have actually rejected that there is a bubble in the nation’s stock market.

Read: Gulf stock markets plunge on United States-Iran stress; Aramco at most affordable because IPO

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