Iran's capital market value hits $116bln

The value of Iran's capital market reached some 1,240 trillion rials (around $116 billion), the Securities and Exchange Organization's director said. "Taking the over-the-counter market (OTC) into account, the capital market value stands at 1,450 trillion rials (some $136 billion)," MNA quoted Ali Saleh-Abadi as saying. Tehran Stock Exchange's main index (TEPIX) has grown to date around 12 percent in the current Iranian calendar year (started on March 21) compared to the year before, he added. The growth of Iran's capital market was 3 percent in 2009, which rose to 67 percent in 2010. In 2008, the global financial slump negatively affected all the world's financial markets, but Iran's stock exchange remained harmless from the crisis and showed a considerable growth, he further said. The TSE has placed at the top of the index performance list of the 52 members of the World Federation of Exchanges (WFE) during the year ended July 2011. According to the latest report of the WFE, over the past year (July 2010-July 2011), index of TSE has placed at the top of the performance list with 58% growth among the other exchanges across the world, MNA reported last week. The current value of the TSE in the first seven months of 2011 with 41% growth placed on sixth rank among the world's top Stock Exchanges, the report added. In the first seven months of 2011, trade volume at Tehran's Stock Exchange has grown 13%, so the TSE placed at the 16th rank of the top international reputable Stock Exchanges. The International Monetary Fund (IMF) said that Iran's capital market is going ahead without any bubble, indicating that sanctions have no negative impact on the TSE. The IMF in the report entitled "Islamic Republic of Iran: Selected Issues Paper", presented a rosy view about Iran's capital market. The report, which was published in August, announced that sanctions have boosted earnings of several leading listed companies in the TSE.