TEHRAN- The variety of buying and selling accounts in Iran’s inventory market has reached 48.5 million by the top of the final Iranian calendar month (August 21), whereas the determine was 9.086 million on the finish of the identical month previously yr, Mehr information company reported on Monday, citing the information launched by Finance and Financial Affairs Ministry.
As reported, the talked about determine additionally contains the accounts opened for buying and selling the “Justice Shares”.
Justice Shares are shares of government-owned firms that got free to the six lowest earnings teams of the society virtually a decade in the past. Shareholders weren’t allowed to promote the shares till Might, when primarily based on a authorities’s plan, the shares had been allowed to be tradable within the inventory market.
The shareholders got the choice to both instantly acquire the possession of their shares and promote it within the inventory change, or let the funding firms handle their portfolio as previously.
The pinnacle of Iran’s Securities and Trade Group (search engine marketing) has stated that 4.5 million new buying and selling accounts have been opened within the nation’s inventory market through the first 4 months of the present Iranian calendar yr (March 20-July 21).
Hasan Qalibaf-Asl stated it’s whereas the variety of buying and selling accounts opened within the inventory market was 820,000 previously yr and 50,000 in its previous yr.
The search engine marketing head additional introduced that the brand new shareholders have entered the inventory market with the common capital of 100 million rials (about $2,380) – 150 million rials (about $3,571).
It must be famous that in late February, search engine marketing set new rules for the opening of buying and selling accounts for the brand new shareholders within the nation’s inventory market.
Based mostly on an announcement by the search engine marketing, the brand new candidates can conduct commerce one month after opening their buying and selling accounts and they’re required to go an examination given by Securities and Trade Brokers Affiliation (SEBA) or search engine marketing through the one-month time, whereas they’re additionally dedicated to avoiding sign promoting and another actions, and in the event that they accomplish that, their accounts shall be blocked.
As determined by SEBA, the candidates are required to take the talked about examination in particular person or nearly, and it’s in step with elevating the information of shareholders.
Elsewhere in his remarks, the search engine marketing head stated that the capital market was not paid consideration by the individuals previously years, including, “However this market is presently extremely welcomed which has made an actual change and growth in it.”
He stated whereas the overall funding within the capital market reached 350 trillion rials (about $8.33 billion) within the earlier yr, the determine was one quadrillion rials (about $23.Eight billion) simply within the 4 first months of the present yr.
Finance and Financial Affairs Minister Farhad Dejpasand has not too long ago stated, “We attempt to save the liquidity attracted by the capital market and lead it towards manufacturing and growth.”