Tehran Stock Exchange

365:, together with Belgian experts, issued a report detailing a plan for an operational stock exchange in Iran. However, the plan was not implemented prior to the outbreak of World War II, and did not gain traction until 1967, when the Government revisited the issue and ratified the Stock Exchange Act. Initially limited in size and scope, the Tehran Stock Exchange (the "TSE") began operations in 1967, trading only in corporate and government bonds. Iran's rapid economic expansion in the 1970s, coupled with a popular desire to participate in the country's economic growth through the financial markets, led to a demand for equity. The Government became actively engaged in the process, by granting shares to employees of large state-owned and family-owned enterprises. Market activity increased substantially, as both companies and 45: 347: 7262: 2826: 1869: 1207: 6806: 3741: 3755: 6663: 3424: 3123:: FY 2019 has been a "golden year" according to financial economists. TEDPIX, one of the 2 main indexes, reached an all-time-high of 512,000 points. According to the same experts, several factors contributed to this, namely better regulation, increased knowledge of the stock market and wider access by the general population and the lackluster status of competing sectors such as gold or real estate. 3138: 2863: 482: 2977:(March 20 – April 21, 2010), the index hit the 14,000 unit mark, up from the previous 12,500, showing 12 percent growth. The value of one month's trading transactions exceeded $ 1 billion against the previous year's corresponding period of $ 95 million. Tehran Stock Exchange bourse index from June 2009 to 2010 grew 55 percent and the value of TSE's total 2645:(TEPIX) was introduced to the market as the main indicator of share price movements. TEPIX is a weighted market value of all share prices appearing on the TSE Board and is measured every two minutes. In addition to the TEPIX, daily price indices of shares of each company, each sector, and the "Top Fifty" most active companies (TSE-50) are computed. 2956:, but following the global reduction in prices of copper and steel, the bourse index dropped by 12.5 percent, as most of the companies listed on the exchange are producers of such commodities. TSE experienced an 11% growth at the end of 2008 and ranked second in the world in terms of increase in the volume of trade after Luxembourg's Bourse. 4474: 1031:). Secondary Market is an exchange facility where the listed securities of small and mid-size companies can be traded efficiently and competitively. Any company, domestic or foreign, can list their products on the exchange for as long as they meet the listing criteria. The value of three markets of Securities and Stock Exchange, 34: 1287:). Its shareholders include the Tehran Stock Exchange Corporation (20%), several banks, insurance companies and other financial institutions (60%), and private and institutional shareholders (20%). As of July 2011, Farabourse has a total market capitalization of $ 20 billion and a monthly volume of $ 2 billion. 2992:. Factors such as the global spike in oil and metal prices, government support for industries and oil sectors as well as the growth of stock market liquidity flow contributed to the boom. Experts commented that the growth was also partly due to a government decision to sell off 20 percent of its equity in 3353:

on a case-by-case basis. The government has reduced the bureaucratic channels and issues investment permits for foreign nationals in less than seven days. Iran has announced it will begin to allow foreign firms to purchase Iranian state-run companies, with the possibility of obtaining full ownership.

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Under the price priority rule, a selling (buying) order with the lowest (highest) price takes precedence. Under the time priority rule, an earlier order takes precedence over others at the same price. Thus, when the lowest sell and the highest buy orders match in price, the transaction is executed at

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The Iranian stocks went into free fall in July 2023 and lost more than 2 million units of value. The Iranian Judicial chief demanded questioning from the president and a member of parliament called for firing the stock exchange organization's CEO. Eghtesadnews called it death blow for stock exchange.

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from anywhere in the world, or get all the necessary information before traveling to Iran. There are 87 online service providers which offer round-the-clock information and services about Iran and its stock market. As of September 2011, 40,000 shareholders are registered and conducting transactions

4438: 3684:

In the case of transfer of the shares and their rights to other corporate entities (i.e. those not listed on the TSE) a flat rate of four per cent of value of the shares and rights transferred applies. No other taxes will be charged. The Amendment has removed the requirement to value the shares in

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and declining markets in other parts of the world. As of August 1, 2009 it has recovered by more than 10%. During Iranian year 2009/10, the value of capital market was around $ 20 billion. Some 3 million trade exchanges were made, pushing up the index to 12,500 units from the previous 8,000 units.

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32,741.7 million were listed in TSE. The TSE has had an exceptional performance over the past 5 years. In general, the stock market in 2005/06 shed value as it is manifested by the decline of its major stock price indices. The TSE price index (TSPIX) at the end of 2005/06, declined by 21.9%, while

1722:

In 2006, the TSE introduced more stringent reporting and disclosure requirements for listed companies and enforcement measures for non-compliance. Six-month corporate earnings announcements are mandatorily audited prior to publishing and seen as being a reliable source of information by investors.

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defined the economic prospects of the country for the coming five years. Attention to promotion of the private sector and new interest in the TSE brought life back to the market. However, lack of regulation and out-of-date legal framework led to crisis in the market leading to certain "meltdowns".

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Overall, Tehran stock exchange posted the second highest gains in global markets in 2011 (TEPIX up 29.6%). Meanwhile, the German's DAX (DAX INDEX) lost 16.5% due and the FTSE 100(UKX INDEX) performed poorly, down 6.7%. Stock markets of emerging economies, like Brazil's Brazil Bovespa Index (IBOV

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and attracting more domestic and foreign investors. Concrete measures that have been taken in the planning and operations of the stock exchange such as the settlement system, geographical expansion, new exchange laws in order to attract local and foreign capital. The TSE has installed the new

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The new system makes it possible to purchase and sell stocks on the same day. The system has also made it possible for 2,000 brokerage stations to work simultaneously, while the number was just about 480 in the past. The rise in electronic dealing, non-stop input and updated data on orders,

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So far, the Tedpix index has been driven by domestic investors, including wealthy Iranians, public sector pension funds and the investment arms of state-owned banks. For the index to prosper in the long run, more foreign investors need to make significant share purchases. As at 2009,

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province. The artifact features four men, hand in hand, indicating unity and cooperation. They are shown standing inside circles of the globe, which is in turn, according to ancient Iranian myth, supported on the backs of two cows, symbols of intelligence and prosperity.

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Companies showing the most profit, are mostly in pharmaceutical, petrochemical and steel businesses. The sharp decline of the Rial in 2012 has made exports more competitive. Other favoured companies are state-owned industrial companies that rely on a mostly domestic

3004:. TEPIX reached a new record on September 18, 2010, when it hit 18,658, up from 11,295 at the start of the year. As of December 2010, the TSE index rose about 64 percent since the start of 2010. The Tehran Stock Exchange has been ranked as the best bourse index in 6578: 935:, who enter these orders into the trading system. Then, the system automatically matches buy and sell orders of a particular security based on the price and quantity requirements. The mechanism for which the price of equities is determined is as follows: 892:

from 9am to 12 noon, which is integrated with a clearing, settlement, depository and registry system. Settlement is T+3. The TSE is solely an order-driven market and all transactions are executed in the manner and under the principles of open auction.

3087:: As of September 2014, the TSE trades at price-to-earnings multiple of 6 times, with a 17 percent dividend yield. By comparison, the MSCI Frontier Markets index trades at price-to-earnings multiple of 12.4 times, with a 3.7 percent dividend yield. 924:

transactions and indices are among other features of the new system. The new system has made it possible to link the stock market to the international bourses. The bourse can now handle 700 transactions per second and 150,000 transactions per day.

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among the top 100 Iranian companies in 2009 is mining, with a margin of 58%. The mining companies in the Fortune 500 had a gross profit margin of 11%. After mining, other industries with highest margins are base metals, and telecommunications.

3081:, many Iranian investors started to move their assets from gold into domestic equities. TEPIX hit 68,461 on October 9 (soaring over 50,000 points). TEPIX reached 71,471 on October 14, 2013. Consequently, TSE's main index grew 130% in 2013. 4492: 4419: 2455:

have a big impact on the profitability of companies which produce global commodities that are either exported or sold on the free market domestically. More than half the weight of the Iranian stock market cap belongs to such companies.

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There are differing estimates of the total capital held by Iranian expatriates. One estimate places the number at $ 1.3 trillion US dollars. Whatever the actual number, it is clear that these funds are sufficiently large enough to buy

4439:"نماینده مجلس: آقای رئیس جمهور، رئیس سازمان بورس را برکنار کنید/ تا دیروز می‌گفتیم گرانی‌ها کمر ما را می‌شکند اما اکنون باید بگوییم گرانی‌ها کمر مردم را شکسته است مردم تحمل قیمت گوشت ۵۰۰ هزار تومانی و مرغ ۱۰۰ هزار تومانی را ندارد" 3033:(WFE), TSE had the best performance among WFE member exchanges from May 2010 to May 2011. With a staggering 79% growth rate in its main index, the TSE ranked 1st in WFE's "Broad Stock Index Performance" category followed by the 384:

did not help matters. Following the end of the war, the 1988 Budget Act re-established activity on the TSE, and within eight years the exchange saw its numbers rise to 249 companies listed. The Government fully embraced

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is responsible for administration and supervisory duties, governed by the Board of Directors. The SEO's Board of Directors are elected by the Securities and Exchange Council. SEO also actively promotes innovation in

2513:) comprise 0.5 percent of the TSE. This number increased to 746 in 2016. By comparison, foreigners own 60 percent of Turkish equities. In 2016, there were 127 foreign institutional traders in Iran's equity markets. 2505:

having 562,375 shareholders, which makes it the "favorite industry" in the stock market. The number of registered shareholders in the TSE increased to 4.5 million in 2011, 7 million in 2014 and 9 million in 2016.

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accounts for only about 2 percent of the stock market in Iran. Foreign investors find it difficult to invest directly or indirectly, since banks cannot transfer funds, and there are no custodian banks because of

888:, investor protection, surveillance mechanisms as well as post-trade systems. The TSE is open for trading five days a week from Saturday to Wednesday, excluding public holidays. Trading takes place through the 3113:: in June 2018, the TEPIX index reached an all-time-high of 102,000. It is expected that listed export-oriented companies (~50% of TSE capitalization) will be advantaged following the steep devaluation of the 3481:

For large-scale investors which possess 10 percent of the agency's value or 10 percent of the management position, can take their capital out of the country after two years upon receiving permission from the

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Etemad wrote the stock exchange lack transparency, government conflict of interest. Supreme Council of stock exchange threatened to leak everything related to corporations even state corporations corruption.

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is heavily concentrated on four economic sectors with companies that make up nearly half of the total listed companies on the exchange. While 163 companies listed are spread out amongst 26 sectors, with the

3107:: As of June 2016, TSE had an average P/E of 7 against 13.8 for MSCI Emerging Markets. TEDPIX annualized 10-year performance in US$ was 10.1% (against 3.9% for MSCI Emerging Markets for the same period.) 2028:" alone accounts to 32 companies at a market capitalization of US$ 897.5 million. Studies show that in 2008 about 30 firms, involved in 11 industries, hold close to 75% of shares in Tehran Stock Exchange. 5902: 3795:

Ownership Structure and Firm Performance: An empirical study on listed firms of Tehran Stock Exchange; Based on Industry Classification. Ali Tahbaz Hendi (LAP LAMBERT Academic Publishing). December 2012.

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online. In 2013, 83 brokerage firms (out of TSE's 93 firms) offered on-line transactions, accounting for 18% of the total trading value. In 2014, Iran's TSE was in talks to share its trading data with

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for two mining companies and a petrochemical company in August 2012 whereas the emitter guarantees a return of 20% (e.g. as a hedge against inflation) for the payment of 1% of the stock value.

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Foreign investors may not withdraw their main capital and capital gain for the first three years of their investment. Repatriation is possible, after one year under the current regulations.

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in April, 2010. Under this new bylaw, foreign investors can participate in the TSE for the first time. Initially, however, some limitations had been imposed on foreign investors:

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data available: Bid/Ask Prices, Indices, Companies Announcements, Trading Volume and Value through the TSE website and a system named "CODAL", including some corporate reports in

4007: 410:

was introduced, and a number of important regulatory mechanisms were strengthened. The market has experienced its share of highs and lows in the past years including topping the

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With the new law, Iran has increased the ceiling on foreign participation to 20% and foreign investors can now invest in the capital market, trade shares (including OTC) and:

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is the highest authority and is responsible for all related policies, market strategies, and supervision of the market in Iran. The Chairman of the Council will be the

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stock markets had a poor year in 2011, reflecting both the political turbulence across the region and the battering suffered by most global markets as a result of the

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registered with the Securities and Exchange Organization of Iran. Thirty-one of the 88 brokerages active in the TSE are licensed to trade the futures contracts. The

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in 2009 indicated that the gross profit margins of the top 100 Iranian companies were almost double those of the Fortune 500. For Fortune 500 companies, the average

439: 3059:: TSE's overall index hit a new record high in October 2012 surpassing 31,000 points. Export-oriented companies have been favoured because of the imposition of an 3385:

of capital would have a significant impact. In 2000, the Iran Press Service reported that Iranian expatriates had invested between $ 200 and $ 400 billion in the

3176:. However, if the stock market grows stronger, it will undoubtedly attract idle capital. In terms of investment, the domestic rival markets of the bourse are the 5899: 1051: 7543: 4271: 1536:

Government's ownership in GDP down to 40% as of 2010 (from 80% in 2005). From 2005 until 2010, Iran privatized $ 63 billion worth of equity. More information:

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As of December 2010, TSE had a market capitalization of $ 84 billion. TEDPIX, TSE's Price and Dividend Index, became the world's second-best performing

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In the case of shares listed on the Tehran Stock Exchange (TSE) the tax on transfer of such shares and other rights is 0.5 per cent of the sales price.

3619: 277:. As of May 2023, 666 companies with a combined market capitalization of US$ 1.45 trillion were listed on TSE. TSE, which is a founding member of the 5930: 5620: 5582: 4763: 6034: 3578:) are some of the few opportunities for foreign investors to participate on the Tehran Stock Exchange . Turquoise Partners publishes one of the few 1494:, which will expire in two, four and six months. Thirty-one of the 88 brokerages active in the TSE are licensed to trade the futures contracts. The 5489: 3217: 973:

is 6%. This can be changed in specific situation by the Board of the TSE in case of unusual price movements resulting in an extremely high or low

7403: 7327: 6794: 3486: 3350: 1999: 1329: 800: 4691: 1927:

A total of 161 companies from these sectors are listed on the TSE, which translates to 49.7% of total companies listed. Largest stocks include:

8342: 5230: 4457:"نگرانی مردم بابت بورس باید رفع شود/ اهتمام جدی در برخورد با عاملان شهادت ماموران پلیس/ موظف به حمایت از آمران به معروف و ناهیان از منکر هستیم" 1787: 6643: 5256: 4155: 1351: 5076: 4456: 2234: 969:

The range of price movements is typically restricted to 3% daily either way from last closing (raised to 5% since May 2015). Restriction on

80: 7317: 7287: 5704: 5468: 5180: 4995: 4933: 4881: 4655: 4185: 1506:. In the TSE's derivatives market, over 13,200 single stock futures contracts were traded in 2011 with a value of over 510 billion Rials. 6753: 471: 449:

Other complementary markets have also been established alongside the equities market. In 2003, the Tehran Metal Exchange (now called the

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and vice versa. Foreigners who want to trade in Iran must get a license, which the exchange says will take seven days on its website.

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within the Iranian fund management industry amount to approximately $ 230 million with great potential for development. According to

1743:. First Frontier in London has tied up with an Iranian investment banking firm, the Agah Group, to provide research on the country's 823:, representatives of the active market associations, three financial experts requested by the Economics Minister and approved by the 5328: 4712: 1596:, based on 2 companies which will expire in two, four and six months. Plan to increase coverage to 10 companies by March 2011. Some 989:, who is in charge of the site, supplies computer services. TSESC is a member of Association of National Numbering Agencies (ANNA). 6937: 6912: 6862: 3647:(OFAC) in order to invest in the TSE. Analysts expect TSE to be among the biggest early beneficiaries if the sanctions are lifted. 2486:

directly holds 35 percent of the TSE, while securing another 40 percent through pension funds and investment companies such as the

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in 2015, Iran is "full of well-run companies". Also true, there are companies in Iran which suffer problems such as mismanagement,

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traded and outstanding buy and sell orders. This ensures that investors have the required information to be able to take informed

7510: 380:

and nationalization of major banks and industrial giants. Mobilization of all resources towards the war effort during the 8-year

6747: 5658: 6802: 6667: 5132: 4760:"Iran Profile – Doing business – For Australian Exporters – Export assistance, grants, and help. – Australian Trade Commission" 3678:

has changed the regulations regarding calculation of tax on transfer of shares and their rights in Iranian corporate entities.

1975: 1914: 986: 875: 313: 6372: 6152: 5918: 5349: 4558: 7529: 7181: 5595: 5523: 5033: 4967: 4295: 4165: 3833: 3615: 3456: 3324: 1840: 5415: 1748: 981:

is not permitted. There are no minimum trading lots. According to the Iranian Commercial Law, companies are prohibited from

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in 1989 with a surge of activity in share activity of many state-owned companies through the defined targets in the first "

309: 6703: 1253:

known as the "TSE rate". In 2002 the "official rate" was abolished, and the TSE rate became the basis for the new unified

1245:

Since 1998 importers and exporters have also been permitted to trade foreign-exchange certificates on the TSE, creating a

7418: 6787: 4039: 3859: 3548:

by creating an umbrella group of nearly 50 state-run firms and listing its shares on four international stock exchanges.

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were the top 4 performers among TSE's brokerage firms. These firms executing 41% of the total value in on-line trading.

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plunged by 40 to 70% between March 2001 and April 2003, the TSE index (Tepix) bucked the trend by going up nearly 80%.

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says it plans to launch a fund focused on Iran worth over $ 100 million, if sanctions are lifted. Hundreds of Western

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enjoyed by Iran's neighbours, while average earnings continued to grow at about 25 per cent a year. As of 2010, the

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As at 2008, about 30 firms, involved in 11 industries, hold close to 75 percent of shares in TSE. In September 2009,

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The trading system also generates and displays details of current and historical trading activity, including prices,

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On April 9, 2011, TSE's main index (TEPIX) hit a new all-time record high at 26,222 over a boost from the stocks of

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E-trading is possible since July 2010 on trial basis and will be offered to the general public starting March 2011.

8327: 7799: 7485: 7292: 6064: 4402:"بورس نه جانی برای نزول دارد و نه توانی برای صعود - خبرگزاری مهر | اخبار ایران و جهان | Mehr News Agency" 5984: 3966: 3177: 3169: 4917: 4384:"حال ناخوش بازار سهام در اولین روز کاری هفته / شاخص کل بورس مجدد کانال ۲ میلیون واحدی را از دست داد - اقتصاد ۱۰۰" 3783: 1805: 3327:" scheme and the rest through the Bourse Organization. The government will keep the title of the remaining 20%. 3246:

rate in Iran's market stands at around six while it is 15 in regional markets. With the removal of obstacles to

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and the stock market. The 2015 budget is not expected to bring much growth for many of the domestic industries.

7505: 7454: 7413: 7398: 7155: 6902: 6780: 1888:, overstaffing, opaque auditing systems, obsolete marketing and distribution networks and high levels of debt. 1006: 4359: 7793: 7393: 7196: 7186: 7135: 7088: 3760: 3030: 3018:

reached an all-time high of 21,349 and US$ 100 billion respectively. An alleged $ 200 million investments by

748: 411: 321: 5965: 2984:

On August 2, 2010, the TSE main index (TEPIX) reached a record level of 16,056 points, despite US-sponsored

1771: 1572:

in April 2010. Since then, as an incentive to investment in Iran, foreign investors in TSE are tax-exempt.

8276: 8216: 8012: 7918: 7495: 7444: 7439: 7357: 7332: 7150: 7062: 3725: 3441: 3132: 2473: 1898:(MC) of US$ 42,452 million. Close to 60% of the MC relates to listed companies from the following sectors: 1565: 1436:

at the date of its completion, has diversified the market. As of 2015, TSE does not offer much complicated

386: 231: 4493:"مهم‌ترین دلیل این حال و روز بورس، تصمیمات ذی‌نفعانه دولت از طریق وزارتخانه‌ها برای قیمت‌گذاری دستوری است" 8002: 7970: 7874: 7828: 7811: 7764: 7362: 7322: 7176: 7120: 6972: 6414: 6217: 3808:

Short-term Prediction of Tehran Stock Exchange Price Index (TEPIX): Using Artificial Neural Network (ANN)

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that bear a fixed annual return during the period of the project and promise the final settlement of the

804: 301: 3000:

of TSE stocks in 2010, the upward trend was expected to continue over the long run, rather than being a

1855: 1342: 281:, has been one of the world's best performing stock exchanges in the years 2002 through 2013. TSE is an 8337: 7787: 7781: 7490: 7408: 7231: 7017: 6827: 6192: 4855: 4511:"عضو شورای عالی بورس تهدید کرد؛ تمام شرکت‌های متخلف و رانتی بورس، حتی وابسته به حاکمیت را افشا می‌کنیم" 2916:

the Financial Sector Index, and the Industrial Index, declined by, 38.8%, 19.4% respectively, and the

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in 2004 has allowed 80% of state assets to be privatized, 40% of which will be conducted through the "

3213: 1537: 7475: 7388: 7052: 6942: 6932: 6887: 6428:

Jahan-Parvar, Mohammad R.; Mohammadi, Hassan (2013). "Risk and return in the Tehran stock exchange".

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Company) worth an estimated $ 90 billion are to be privatized on the Tehran Stock Exchange by 2014.

1473: 1058: 8176: 7851: 7307: 7201: 7081: 6947: 6907: 6872: 5260: 4242: 4171: 3316: 2616: 2025: 1653: 1621: 1479: 1002: 907:

The Tehran Stock Exchange (TSE) has started an ambitious modernization program aimed at increasing

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In recent years, the role of the private sector has been further on the increase. Furthermore, an

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in its history: August 1996 – July 1998 (−32%); December 2004 – July 2006 (−34%); and during the

262: 6723: 5515: 5504: 5465: 5402: 5187: 5156: 5051: 4992: 4940: 4888: 4808: 4784: 4662: 4227:

Spindle, Bill; Dan Keeler (March 31, 2015). "Nuclear Pact Could Lead Investors to Iran Stocks".

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needs further strengthening and development. See also: Iran Securities and Exchange Commission.

8018: 7480: 7191: 3446: 3221: 3034: 2985: 2925: 2078: 1736: 1732: 1461: 1389:: 0.1% of transaction value payable by both the buyer and seller with a maximum of 100 million 1368: 1218: 902: 305: 6558: 6476: 6455: 6351: 6330: 6288: 6254: 6119: 6098: 6077: 5377: 3094: 2494:

also play a significant role in TSE trading. In 2016, TSE had 38,000 institutional investors.

8156: 7965: 7383: 7130: 6741: 3778: 3773: 3709: 3431:

with major exchanges or emerging stock markets over the past few years and not even with the

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In 2007, the market, with a capitalization of $ 37 billion, was trading at a fraction of the

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with major exchanges or emerging stock markets over the past few years and not even with the

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The trading system is an order driven system, which matches buying and selling orders of the

908: 760:(FEAS). Since July 2010 the TSE is a member of the International Options Market Association. 528: 423: 390: 329: 191: 169: 6007: 5849: 2962:: The TSE sank about 40% in value between August 2008 and March 2009, influenced by falling 1032: 8291: 8211: 7976: 7960: 7923: 7805: 7748: 7716: 7500: 7241: 4066:

The Tehran Stock Exchange: A Maverick Performer?, Middle East Economic Survey, May 23, 2005

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culture in Iran. By March 2010, 3.219 million shareholders had registered in the TSE, with

1764: 1712: 1597: 1499: 1445: 1441: 1313: 1304: 1197: 808: 6744:– TSE statistics/regulations/operations/international comparisons/calendar and latest news 6397:

Migration Policy Institute – Iran: A Vast Diaspora Abroad and Millions of Refugees at Home

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This new law does not explicitly protect against control and manipulation through foreign

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Please help update this article to reflect recent events or newly available information.

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Taghavi, Roshanak; Margaret Coker (2009-08-06). "Tehran Struggles to Defend Currency".

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In 2005 fewer than 5 percent of Iranians owned stock. The Government is promoting the

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The Regulations Governing Foreign Investment in the Iranian Exchanges and OTC Markets

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that some banks in Iran would be disconnected from this financial messaging service.

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exchange rate has remained relatively stable from 2003, when Iran adopted a "managed

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by the international community and the consequent sharp decline in the value of the

2104:, turning locally produced raw materials into products targeting Iranian consumers. 8226: 8146: 7942: 7823: 7699: 7618: 7574: 7552: 7342: 7216: 7115: 6987: 6437: 6376: 5881:

Tehran Times: Tehran exchange posted the second highest growth among global markets

5775: 5353: 3656: 3635: 3587: 3579: 3557: 3402: 3294: 3220:(world's 12th economy by 2025). Since 2012, TSE has served as a safe haven against 3098: 3026: 2974: 1942: 1859: 1703: 1666:

and options are the next instruments to be available. Profit and awards accrued on

1617: 1605: 1601: 1593: 1586: 1582: 1483: 1280: 982: 465: 297: 286: 254: 173: 5683: 5599: 5037: 4971: 4299: 4076: 3837: 1723:

Starting April 2014, all companies have to report their short term investments at

8301: 8296: 8231: 8206: 8141: 8115: 8095: 8054: 8049: 8044: 8029: 8024: 7912: 7846: 7838: 7726: 7613: 7246: 7104: 6757: 6176: 5991: 5949: 5906: 5887: 5856: 5627: 5472: 4999: 3703: 3583: 3509: 3460: 3298: 3282: 3259: 3197: 3161: 3157: 3141: 3050: 2943: 2857: 2642: 2502: 2062: 1813: 1756: 1699: 1650: 1609: 1569: 1453: 1437: 1360: 1319: 1266: 1193: 837: 824: 790: 362: 346: 325: 282: 6729: 6139: 2069:

sectors. The worst performers were home appliances and electronics. In terms of

2046:

was 6.9% and for the Iranian companies, it was 13%. The sector with the highest

422:(−38%). In 2014, after reaching historic highs, TSE lost a quarter of its total 8256: 8251: 8151: 8136: 7897: 7892: 7857: 7656: 7623: 7569: 7561: 7434: 7261: 7226: 7206: 7140: 6992: 6952: 6630: 6590: 6525: 6441: 6020: 5868: 5837: 5817: 5796: 5754: 5642: 5546: 4836: 4633: 3715: 3545: 3339: 3255: 3201: 3193: 2921: 2074: 2016: 1817: 1783: 1491: 1457: 1417: 1364: 1028: 913: 881: 853: 686: 402: 293: 57: 6545: 4043: 3863: 8316: 8120: 8105: 8080: 8034: 7986: 7689: 7646: 7633: 7584: 7221: 6847: 4713:"Fars News Agency :: New Stock Exchange Kicks off Work in Southern Iran" 3908: 3532:, which is also transferable. Moreover, under the law, foreign investors are 3449:. On 10 November 2018 Gottfried Leibbrandt, chief executive of SWIFT said in 3386: 3278: 3209: 3149: 2886: 2544: 2250: 2047: 1692: 1246: 978: 730: 95: 82: 33: 5299: 3008:, Africa and Middle East in 2010 in terms of performance of the main index. 2555:

funds and the remainder of which are equity funds. As of August 2010, total

8281: 8201: 8171: 8161: 7981: 7955: 7704: 7694: 7677: 7608: 7603: 7579: 7042: 7012: 6867: 6837: 6065:

Andrew Torchia: Iran nuclear deal would open last big frontier stock market

3697: 3671: 3513: 3499: 3382: 3205: 3164:

has many investment opportunities, particularly on its stock exchange. The

3114: 3074: 3064: 2989: 2912: 2867: 2594: 2552: 2498: 2452: 2101: 1825: 1487: 1390: 1250: 1214: 1170: 1080: 970: 734: 443: 427: 273:'s largest stock exchange, which first opened in 1967. The TSE is based in 165: 154: 6021:"Tehran Stock Exchange index hits a 50-year record high of 102,000 points" 3582:

newsletters that covers developments of the Tehran Stock Exchange and the

414:' list in terms of performance in 2004. As of May 2014, TSE has had three 8286: 8266: 8246: 8241: 8186: 8075: 8007: 7002: 6967: 6922: 6842: 5900:

Tehran Stock Exchange leads MENA financial markets in 2011: The Economist

4920:. International Business Times, April 11, 2014. Retrieved April 16, 2014. 3746: 3640: 3467:

Foreign investors may own a maximum of 10 percent of each listed company.

3428: 3297:. According to various sources, TSE is 200% undervalued in comparison to 3185: 3060: 2878: 2540: 2532: 2448: 2385: 2090: 2039: 2005: 1799: 1625: 1296: 1234: 1048: 932: 415: 5284:

Fitch, Asa; Aresu Eqbali (2015-06-15). "Investors Eyeball Iran Market".

4401: 1868: 1206: 8271: 8191: 7868: 7731: 3719: 3607: 3145: 2580: 2539:

are investing in the TSE according to the investment funds regulation.

1724: 1613: 1449: 1409: 1111: 963: 860: 431: 5684:"Iran – Ambitious modernization program for the Tehran Stock Exchange" 5325:"Iran – Ambitious modernization program for the Tehran Stock Exchange" 3489:(e.g. through funds located offshore or foreign agents based in Iran.) 3478:

For small-scale (foreign) investors, take out their money at any time;

3381:

are estimated to have invested up to $ 200 billion. Even a 10 percent

1383:

Equities and rights: 0.55% payable by the sellers and 0.5% the buyers.

1354:, investors are able to trade in the Iranian stock market through the 7907: 7902: 7817: 7736: 7037: 6502: 3432: 3243: 3239: 2997: 2963: 2898: 2882: 1612:: originally expected by 2011. TSE embedded a special type of equity 1558: 1210: 974: 928: 658: 7521: 6698: 6238: 5492:. Financial Tribune, December 14, 2016. Retrieved December 14, 2016. 3285:

in their early stage while it has developed characteristics such as

8085: 7721: 7057: 7007: 6631:

Payvand.com: How U.S. Laws Can Affect Your Personal Affairs in Iran

3575: 3281:, growth valuations and potential investment upside are similar to 2917: 2911:: In December, 2005, 419 companies with a market capitalization of 2089:

on the list ranged from $ 12.8 billion or the top ranking company,

1498:

for futures contracts is set at 1-to-10. TSE will only deal in the

1413: 1355: 1303:

for futures contracts is set at 1-to-10. TSE will only deal in the

773: 7073: 6170:

Gulfnews.com: Bank Melli Iran will launch fund to invest in bourse

5921:

Wall Street Journal , 30 October 2012. Retrieved November 4, 2012.

5585:. Financial Tribune, October 24, 2016. Retrieved October 24, 2016. 4656:"Turquoise Partners: Iran Investment Monthly (February 2011)]" 2885:. While the overall indices of the world's five major exchanges – 7929: 6877: 6716:

Tehran Securities Exchange Technology Management Company (TSETMC)

3450: 3267: 3258:

has fallen from 16 per cent in 2009 to 13 per cent in 2010. Iran

2938:: The market bottomed in June 2007 mainly because of the renewed 2058: 1549: 634: 5966:

Iran stock market soars but much of the economy remains stagnant

5838:

Mehr News Agency: Tehran Stock Exchange's Index Hits Record High

5002:. Turquoise Partners, January 2102. Retrieved February 16, 2012. 4535:"Tehran stock exchange prepares for flood of foreign investment" 4154:

Ayse, Valentine; Nash, Jason John; Leland, Rice (January 2013).

4127:"Iranian stock market in fast recovery – The National Newspaper" 3528:

is also in charge of providing the investors with the necessary

2551:. Since then, 41 funds have been established, four of which are 1755:

Facilitating and expanding market access by means of developing

768:

The symbol of the TSE is a highly stylized representation of an

436:

some banks and financial institutions attached to the government

7672: 7347: 7265: 6822: 6662: 6310:"/ In depth – Iran to privatise but cling to big oil companies" 6052:"TSE passes a year of prosperity, now experiencing higher boom" 3754: 3603: 3595: 3567: 3390: 3370: 3005: 2890: 2568: 2491: 2465: 2304: 2020: 1987: 1633: 1238: 959: 845: 841: 351: 274: 67: 5231:"Iran stock fever reaches London as firms rush to build funds" 3423: 3093:: The Iranian state is the biggest player in the economy, and 369:

participated in the new-found wealth associated with the TSE.

7595: 7352: 7027: 7022: 6897: 6732:- (Iranian English newspaper) Offers daily reports on the TSE 5933:. Bloomberg LLP, December 26, 2013. Retrieved April 13, 2015. 4329:"Tehran Exchange Begins Trading Futures to Attract Investors" 3459:

was approved by the government in June 2005, but ratified by

3394: 3374: 3053:

and the increasingly bearish outlook for the global economy.

2920:

Index gained 11.8%, mostly due to a reported US$ 100 billion

2902: 2894: 2469: 1993: 1949: 1934:

with MC of US$ 3,218 million, which translates to 7.6% of MC,

1663: 1646: 1421: 1226: 438:

inject money into the stock market through a fund called the

377: 6498:"SWIFT system to disconnect some Iranian banks this weekend" 4200:. Turquoise Partners (July 2014). Retrieved August 16, 2014. 1876:

was privatized and became the largest company listed on TSE.

852:

regulatory entity for the regulation and development of the

844:

committee" to assess the compatibility of new products with

6805: 6242: 6010:. Turquoise Partners, July 2016. Retrieved August 28, 2016. 5013:"Enhancing Transparency in Equity Market Via Book Building" 3661:

As of July 2010, taxes on TSE transactions are as follows:

3645:

U.S. Treasury Department's Office of Foreign Assets Control

3644: 3611: 3504:

Since April 2010, foreign investors have been able to open

3137: 3046: 1728: 1637: 1561:

in securities market with a review on trading regulations.

1230: 951:

the price. In short, the TSE market is a pure order-driven

772:(550-330 BC) gun-metal relief artifact, which was found in 361:

The concept of stock industrialization dates to 1936, when

355: 270: 6738:– Offers Quarterly Bulletin of Iran Islamic Capital Market 4837:"Tehran Stock Exchange Members On-line Trading Activities" 3536:

caused by future political turmoil or regional conflicts.

1698:

TSE has an electronic system for tracing market abuse and

1424:) are being traded at TSE. The plan is to introduce other 350:

The former building of Tehran Stock Exchange at Hafez St,

6762: 6715: 5931:

Iranians Pile Into Stocks as Nuclear Deal Spurs 133% Gain

5869:

Mehr News Agency: Tehran Stock Exchange value hits $ 125B

5195:. Turquoise Partners, June 2014. Retrieved July 12, 2014. 4080: 3534:

protected and insured against possible losses and damages

2988:. Thus, TEDPIX became the world's second-best performing 2862: 2490:, one of the largest institutional investors on the TSE. 2085:

were the best performing industries. Sales totals of the

1812:(free of charge). Plans to offer TSE market data through 707: 143: 5643:

Mehr News Agency: Tehran capital market value hits $ 84B

5403:

Turquoise Partners: Iran Investment Monthly (March 2011)

4928: 4926: 4634:"Tehran Stock Exchange to Raise Price Fluctuation Level" 1894:

There were 324 companies listed on the TSE with a total

481: 221: 6153:"In Iran, Stocks Are a Haven As Economy Hits the Skids" 5850:

Mehr News Agency: Expats invest $ 200m in Tehran Bourse

2011:

Metal and Mine Investment Companies (over $ 1 billion).

931:. Investors can place their orders with TSE accredited 6688: 6593:. Tehran Times, April 18, 2014. Retrieved May 1, 2014. 6067:. Reuters, October 20, 2014. Retrieved April 12, 2015. 5919:

In Iran, Stocks Are a Haven As Economy Hits the Skids.

4918:

Reuters Plans Tie-Up With Iran's Tehran Stock Exchange

3614:

in 2015, in anticipation of the lifting of sanctions.

2509:

As of 2014, about 300 foreign investors (including 25

1428:

in the near future. The introduction of project-based

485:

TEPIX: Tehran Stock Exchange's main index (2000–2014).

6676: 6427: 4923: 4736: 4008:"Tehran Exchange Trades Futures to Attract Investors" 3301:

peers because of misperception and sanctions (2015).

2567:

are already planning financial services companies in

1482:(IME). In July 2010, TSE introduced six single-stock 1336: 827:, and one representative for each commodity exchange. 446:

and decreasing the fluctuations in the stock market.

6591:

First Iranian stock brokerage center opens in London

5439: 3736: 2057:

The best performing industries in 2011, in terms of

1460:(except for futures) in contrast to the neighboring 861:

Corruption, inside trading, interference and control

6735: 5998:, September 17, 2014. Retrieved September 25, 2014. 5501: 4353:"Quarterly Bulletin of Iran Islamic Capital Market" 3252:

2,000–3,000 billion US dollar stock exchange market

1735:have suspended their operations in Iran because of 830: 6756:– Monthly report on the Tehran Stock Exchange and 6605:. Iran Daily, July 3, 2014. Retrieved, July 5 2014 6187: 6185: 6046: 6044: 6035:"How rial's devaluation may boost Iranian economy" 5503: 5475:. Turquoise Partners. Retrieved February 25, 2015. 5440:"Tehran Stock Exchange Monthly Bulletin June 2014" 4715:. English.farsnews.com. 2010-12-24. Archived from 4559:"AtosEuronext wins Tehran Stock Exchange contract" 3622:have also shown interest in investing in the TSE. 3405:continue to make substantial investments in Iran. 6548:. Tehran Stock Exchange. Retrieved July 27, 2015. 6140:International Sanctions Boost Iran’s Stock Market 5797:"Tehran Stock Exchange ranks 2nd in WFE rankings" 5461: 5459: 5416:"Tehran Stock Exchange Monthly Bulletin May 2012" 5283: 5126:"Netfirms | This account has been suspended" 4226: 1039:hit $ 100 billion in December 2010. In 2010, the 8323:Financial services companies established in 1967 8314: 6579:Financial Times: Tehran exchange extends advance 5186:. Turquoise Partners. 2014-06-01. Archived from 5120: 5118: 4856:"No. 3817 | Domestic Economy | Page 4" 4608:"Iranian Embassy in Oslo: Tehran stock exchange" 4160:. London, U.K.: The Business Year. p. 188. 3077:'s strong devaluation between 2012 and 2013 and 2981:went up about 33 percent, to over $ 71 billion. 2637:Each Company Index (based on Price & Volume) 2547:and their operation permission is issued by the 1645:Establishing Islamic bonds and products such as 1544:(IPOs) will be conducted through the process of 754:Fédération Internationale des Bourses de Valeurs 6736:Iran Securities and Exchange Organization (SEO) 6182: 6041: 5943:Tehran Stock Exchange up 80%, TEPIX hits 68,461 5818:"Tehran Stock Exchange index rises 64% in 2010" 5206:"FACTBOX-Foreign companies step away from Iran" 5077:"Options Trading to Make Debut With Gold Coins" 4002: 4000: 3998: 3996: 3994: 3992: 3990: 3988: 3986: 3984: 3408: 3266:. As of 2014, Iran's wage costs are lower than 3262:in July 2013. Iran has a large young, educated 2549:Iran Securities and Exchange Organization (SEO) 1994:Power Plant Projects Management Company (MAPNA) 6603:WSJ: Oil, auto giants plan investments in Iran 6193:"/ Equities – Tehran exchange extends advance" 5956:, October 11, 2013. Retrieved August 20, 2014. 5755:"Tehran Stock Exchange Falls to Five Year Low" 5653: 5651: 5456: 5372: 5370: 5300:"Minister predicts high rate of firm closures" 4850: 4848: 4846: 4326: 4153: 3457:The new by-law on foreign portfolio investment 2453:official exchange rate of the Iranian currency 1788:Tehran Stock Exchange Services Company (TSESC) 1592:In July 2010, TSE introduced six single-stock 1225:is facilitated by a network of 50 Iranian-run 832:The Securities and Exchange Organization (SEO) 746:Since 1995, TSE has been a full member of the 7537: 7089: 6788: 6526:"Iran to ease foreign investment regulations" 6430:The Quarterly Review of Economics and Finance 5115: 4785:"Turquoise Partners: Iran Investment Monthly" 4322: 4320: 4318: 4316: 3172:with huge amounts of idle money entering the 3160:in the world. According to many experts, the 1295:Trading takes place through licensed private 378:prohibition against interest-based activities 328:and others. Many of the companies listed are 6644:Iran Nuclear Deal Sends Tehran Stocks Higher 5319: 5317: 5208:. In.reuters.com. 2010-07-23. Archived from 4347: 4345: 4298:. Iranbourse.com. 1967-02-04. Archived from 4129:. Thenational.ae. 2010-05-09. Archived from 3981: 1839:training programs in the society. See also: 1397: 43: 6769:and settlement of trading, central registry 6724:Securities and Exchange Brokers Association 5909:. Tehran Times. retrieved January 19, 2012. 5648: 5614: 5502:Kurtis, Glenn; Eric Hooglund (2008-07-18). 5367: 4843: 4754: 4752: 4750: 4748: 3718:: 10% tax exemption, companies holding 20% 3712:: Profit and awards accrued are tax exempt. 2952:: The TSE was not directly affected by the 1959:other companies in the top spots included: 1695:and claiming against breach of market law. 1656:(MBS), based on market development act and 548:Total Value of Share Trading (USD Millions) 330:state-owned firms that have been privatized 234:under SEO supervision. As of July 2010, no 7544: 7530: 7096: 7082: 6795: 6781: 6559:"Iran Daily – Domestic Economy – 06/18/08" 6477:"Iran Daily – Domestic Economy – 12/16/08" 6456:"Iran Daily – Domestic Economy – 11/27/08" 6373:"Iran Daily – Domestic Economy – 09/02/06" 6352:"Iran Daily – Domestic Economy – 04/04/06" 6331:"Iran Daily – Domestic Economy – 02/14/07" 6289:"Iran Daily – Domestic Economy – 02/10/08" 6245:, April 6, 2015. Retrieved April 12, 2015. 6239:Jason Gewirtz: Lining Up to Invest in Iran 6120:"Iran Daily – Domestic Economy – 12/23/06" 6099:"Iran Daily – Domestic Economy – 04/09/07" 6078:"Iran Daily – Domestic Economy – 10/09/08" 5980: 5978: 5976: 5974: 5730:"Iran Daily – Domestic Economy – 09/17/07" 5705:"Iran Daily – Domestic Economy – 09/13/07" 5378:"Iran Daily – Domestic Economy – 12/15/08" 5350:"Iran Daily – Domestic Economy – 11/11/07" 4882:"Iran Investment Monthly - September 2011" 4876: 4874: 4872: 4602: 4600: 4580:"Iran Daily – Domestic Economy – 12/10/08" 4532: 4313: 4102:"Iran Daily – Domestic Economy – 07/02/09" 4010:. BusinessWeek. 2009-12-08. Archived from 3905:"Federation of Euro-Asian Stock Exchanges" 3899: 3897: 3895: 3893: 3891: 3889: 3887: 3885: 3883: 3881: 3728:: Foreign investors in TSE are tax-exempt. 2170:National Iranian Copper Industries Company 2108:Top 10 Companies by Market Capitalization 2093:, to $ 318 million for the 100th company. 1938:National Iranian Copper Industries Company 1634:National Iranian Copper Industries Company 565:Daily Average Trading Value (USD Millions) 470:were launched in 2008 followed in 2012 by 372:Everything came to a standstill after the 134:, demutualized (not-listed and for-profit) 6650:, April 5, 2015. Retrieved April 8, 2015. 6621:, July 23, 2015. Retrieved July 27, 2015. 5583:127 Foreign Traders in Iran Equity Market 5314: 5279: 5277: 5157:"Iran Investment Monthly - November 2011" 4831: 4829: 4342: 3769:International Rankings of Iran in Economy 3401:apply to all foreign investors, and many 3041:with 75.1% and 48.9% rates respectively. 2535:managed by permitted brokerage firms and 1782:about Iran and its stock market. Lack of 1679:Enactment of anti-money laundering laws. 1478:In 2008, commodity Futures came onto the 1412:offered by listed companies. As of 2015, 1279:(OTC) market for bonds and equities (aka 582:Total Number of Trade in Share (Millions) 7283:Chamber of Commerce Industries and Mines 7260: 6742:Federation of Euro-Asian Stock Exchanges 5789: 5707:. Nitc.co.ir. 2007-09-13. Archived from 5398: 5396: 5394: 4745: 4582:. Nitc.co.ir. 2008-12-10. Archived from 3668:: No tax (22.5% at source from Company). 3544:Iran is to target foreign investment in 3422: 3212:, Iran is forecast to reach the highest 3136: 2877:: The performance of the TSE has had no 2861: 2083:oil and gas exploration & production 1970:Chadormalu Mining and Industrial Company 1867: 1780:round-the-clock information and services 1275:Since 2009, Iran has been developing an 1205: 758:Federation of Euro-Asian Stock Exchanges 741: 480: 345: 279:Federation of Euro-Asian Stock Exchanges 5971: 5573:, July 5, 2014. Retrieved July 5, 2014. 5490:9m Trading in Iran’s Securities Markets 5485: 5483: 5481: 5466:Iran Investment Monthly (December 2014) 5327:. Al Bawaba. 2007-06-22. Archived from 4962: 4960: 4869: 4809:"Iran Investment Monthly - August 2011" 4690:. Zawya.com. 2010-12-21. Archived from 4597: 4222: 4220: 4218: 4216: 4214: 4212: 4210: 4208: 4206: 3957: 3955: 3953: 3951: 3949: 3947: 3945: 3878: 3519: 2954:international financial turmoil in 2008 2625:TSE-50 - (Top 50 most active companies) 1379:As of July 2010, trading fees include: 8315: 5638: 5636: 5274: 4934:"Iran Investment Monthly Aug 2010.pdf" 4913: 4911: 4909: 4826: 4528: 4526: 4524: 4149: 4147: 4040:"Tehran Stock Exchange Monthly Report" 4034: 4032: 4030: 4028: 3943: 3941: 3939: 3937: 3935: 3933: 3931: 3929: 3927: 3925: 3828: 3826: 3824: 3822: 3722:shares are provided 20% tax exemption. 3427:The performance of the TSE has had no 3357: 3349:tenders, but need permission from the 3334:, 47 oil and gas companies (including 2459: 992: 876:Tehran Stock Exchange Services Company 756:or FIBV), and is a founding member of 8343:Iranian companies established in 1967 7551: 7525: 7077: 6776: 6726:- Self-regulatory organization of TSE 6711:Sukuk (Islamic Financial Instruments) 5912: 5567:Working group to boost capital market 5391: 4648: 4436: 4062: 4060: 3254:. Due to the price gains the average 3234:Inflation and monetary policy in Iran 918:Atos Euronext Market Solutions (AEMS) 797:The Securities & Exchange Council 7318:Management and Planning Organization 5968:. Financial Times, October 14, 2013. 5862: 5776:"Iran Daily – Front Page – 05/09/09" 5495: 5478: 5408: 5057:. Turquoise Partners. September 2012 4957: 4887:. Turquoise Partners. Archived from 4688:"Capital Market Value To Hit $ 100b" 4475:"ضربه مهلک به اعتماد سهامداران بورس" 4243:"Iran Investment Monthly April 2014" 4203: 3610:managers and investors have visited 3170:70 percent of the Iranians own homes 2819: 1774:planned later in 2011. There are 87 821:Securities and Exchange Organization 170:corporate participation certificates 7103: 5633: 4906: 4730: 4521: 4144: 4025: 3922: 3819: 3403:Iranian expatriates based in the US 3227: 3216:between 2015 and 2025 and join the 3126: 3097:strongly influences the outlook of 3022:also contributed to this increase. 2516: 2478:Civil Servants Pension Organization 1849: 1624:will be available in January 2017. 896: 434:. It was also decided in 2014 that 296:has companies from a wide range of 258: 13: 5547:"3.2 Million Shareholders in Iran" 5131:. Irantradelaw.com. Archived from 4533:Bozorgmehr, Najmeh (May 4, 2015). 4327:Sheikholeslami, Ali (2010-07-24). 4057: 3963:"Tehran Stock Exchange: FACT BOOK" 3789: 2488:Social Security Investment Company 1946:: Sanaye Mese Iran) at 6.8% of MC, 1684:Anti-money laundering laws in Iran 1337:Electronic trading and market data 599:No. of Transactions (in thousands) 32: 14: 8354: 7313:Islamic Revolutionary Guard Corps 6656: 6615:Hedge Fund Plans to Invest in TSE 5598:. January 5, 2011. Archived from 4970:. August 24, 2010. Archived from 3625: 3551: 3512:and exchange their currencies to 3415:Foreign direct investment in Iran 3156:Iran is the last, large untapped 3014:: On February 1, 2011, TEPIX and 2447:Fluctuations in global prices of 2262:Telecommunication Company of Iran 2208:Bandar Abbas Oil Refining Company 2154:Khalij Fars Petrochemical Company 2143:Telecommunication Company of Iran 1874:Telecommunication Company of Iran 1128:Minimum Term of Operation (Years) 880:Under its new structure, TSE has 7800:Electronic communication network 6938:Jaber Ebne Hayyan Pharmaceutical 6804: 6661: 6636: 6624: 6608: 6596: 6584: 6572: 6551: 6539: 6518: 6490: 6469: 6448: 6421: 6402: 6390: 6365: 6344: 6323: 6302: 6281: 6260: 6248: 6232: 6206: 6163: 6145: 6133: 5259:. Iranbourse.com. Archived from 5162:. Turquoise Partners. 2011-11-01 3753: 3739: 3304: 2996:. Given the relative low market 2924:from the country because of the 2824: 1408:Presently, TSE trades mainly in 890:Automated Trade Execution System 406:Over the 1996 to 2000 period an 7404:Military equipment manufactured 6257:. Retrieved December 25, 2008. 6112: 6091: 6070: 6058: 6027: 6013: 6001: 5959: 5936: 5924: 5893: 5874: 5843: 5831: 5810: 5768: 5747: 5722: 5697: 5676: 5588: 5576: 5560: 5539: 5432: 5342: 5292: 5249: 5223: 5198: 5173: 5149: 5098:"Stock Options Unveiled at TSE" 5090: 5069: 5044: 5026: 5005: 4986: 4801: 4777: 4705: 4680: 4626: 4572: 4551: 4503: 4485: 4467: 4449: 4430: 4412: 4394: 4376: 4288: 4264: 4235: 4178: 4119: 4077:"Iran blocks share price gains" 3784:List of Mideast stock exchanges 3539: 2622:TSE Cash Dividend Index (TEDIX) 2397:Parsian Oil and Gas Development 1640:were first introduced in 2016. 1374: 940:The best price (price priority) 426:because of the collapse of the 267:Burs-e Owraq-e Bahadar-e Tehran 238:is offered, except for futures. 6903:Khorasan Petrochemical Company 6399:. Retrieved December 28, 2010. 6214:"World Factbook: Iran's entry" 5645:. Retrieved December 29, 2010. 5302:. Mehr News Agency. 2014-02-17 4094: 4069: 3852: 3397:, but almost nothing in Iran. 3250:Iran could potentially have a 2815: 2641:In 1990, the All-Shares Price 2316:Iran Mobile Telecommunications 1921:Non-Metallic Minerals Products 1693:mechanisms for tracking frauds 916:which has been purchased from 180: 1: 7794:Multilateral trading facility 6581:. Retrieved November 8, 2010. 6142:. Fox News, October 31, 2012. 4420:"بورس رکورد منفی‌ها را شکست!" 3813: 3761:Business and economics portal 3691: 3598:to open an office in London. 3345:Foreign investors can bid in 3045:INDEX), shed 18.4%. Equally, 3031:World Federation of Exchanges 3027:metal and shipping industries 1984:companies (over $ 1 billion), 1520:Status (as of November 2016) 1260: 869: 749:World Federation of Exchanges 472:the Energy/Electricity Bourse 420:financial crisis of 2007–2008 412:World Federation of Exchanges 186:666 companies (December 2020) 8217:Returns-based style analysis 8013:Post-modern portfolio theory 7919:Security characteristic line 7063:Zagros Petrochemical Company 5890:. Retrieved January 4, 2011. 5661:. 2007-09-28. Archived from 4157:The Business Year 2013: Iran 4104:. Nitc.co.ir. Archived from 3592:Mehrafarin Brokerage Company 3442:foreign portfolio investment 3409:Foreign portfolio investment 3133:Iranian Economic Reform Plan 2628:Each industry (sector) Index 2474:Social Security Organization 2370:Esfahan Oil Refining Company 2359:Pardis Petrochemical Company 1749:Accounting standards in Iran 1566:foreign portfolio investment 1059:Minimum Listing Requirements 987:TSE Services Company (TSESC) 780: 7: 7971:Efficient-market hypothesis 7875:Capital asset pricing model 7812:Straight-through processing 6415:Economist Intelligence Unit 6255:Justice Shares Payment Soon 6218:Central Intelligence Agency 3732: 3632:U.S. sanctions against Iran 3373:in all state companies. In 3204:and the devaluation of the 2604:TSE All-Share FF adjusted ( 2586:TSE All-Share Price Index ( 2332:Omid Investment Corporation 1976:Kharg Petrochemical Company 1909:Motor Vehicles and Trailers 1187: 1047:and monetary activities in 1043:was launched to facilitate 840:and has formed a specific " 811:, Managing Director of the 457:in 2006) was launched. The 10: 8359: 7788:Alternative Trading System 7018:Pasargad insurance company 6928:Iran Tractor Manufacturing 6918:Iran Combine Manufacturing 6750:– Comprehensive 2003-Study 6442:10.1016/j.qref.2013.05.005 6179:. Retrieved July 31, 2010. 5859:Retrieved January 30, 2011 5840:Retrieved January 30, 2011 5686:. Albawaba.com. 2007-06-22 4437:ایران, عصر (May 1, 1402). 3654: 3629: 3555: 3497: 3412: 3361: 3308: 3231: 3178:Iranian real estate market 3130: 3079:the presidential elections 2855: 2593:TSE Dividend & Price " 2578: 2574: 2520: 2463: 2343:Gol Gohar Iron Ore Company 2278:Gol Gohar Iron Ore Company 2134:% of Total MC (June 2014) 2000:Retirement Investment Firm 1964:Gol Gohar Iron Ore Company 1853: 1772:Mobile Phone-Based Trading 1670:are tax exempt. See also: 1654:Mortgage-Backed Securities 1533:of state-owned companies. 1517:TSE projects (as of 2009) 1509: 1474:Derivatives market in Iran 1471: 1467: 1430:participation certificates 1401: 1340: 1290: 1264: 1191: 1023:participation certificates 996: 900: 873: 784: 511:Number of Listed Companies 453:after its merger with the 367:high-net-worth individuals 339: 335: 318:mining, steel iron, copper 8333:Companies based in Tehran 8063: 7938: 7837: 7757: 7665: 7632: 7593: 7559: 7468: 7427: 7376: 7338:National Development Fund 7293:General Inspection Office 7275: 7258: 7164: 7146:Foreign direct investment 7111: 6943:Jam petrochemical company 6818: 6633:Retrieved January 4, 2010 6528:. Payvand.com. 2006-11-22 5820:. Payvand.com. 2006-11-22 5799:. Payvand.com. 2006-11-22 5757:. Payvand.com. 2006-11-22 5549:. Payvand.com. 2006-11-22 5181:"Iran Investment Monthly" 5052:"Iran Investment Monthly" 4186:"Iran Investment Monthly" 3319:of the article 44 of the 3275:Voltan Capital Management 3218:world's largest economies 3144:& projections by the 2930:Iranian nuclear programme 2833:This section needs to be 2523:Ghadir Investment Company 2289:Ghadir Investment Company 2224:Ghadir Investment Company 2087:top 100 Iranian companies 2036:top 100 Iranian companies 2026:Food and Beverages Sector 1915:Chemicals and By-Products 1864:List of Iranian companies 1672:(OTC) Bond market in Iran 1552:, for more transparency. 1398:New products and services 1194:Value of the Iranian Rial 1156:Equity to Asset Ratio (%) 1079:Minimum Capital (billion 395:Five-Year Economic Reform 228: 216: 208: 200: 190: 179: 160: 150: 138: 126: 111: 74: 63: 53: 42: 31: 24: 7852:Arbitrage pricing theory 7308:Iran Mercantile Exchange 6948:Jey Oil Refining Company 6810:Companies listed on the 6458:. Nitc.co.ir. 2008-11-27 6333:. Nitc.co.ir. 2007-02-14 6122:. Nitc.co.ir. 2006-12-23 6101:. Nitc.co.ir. 2007-04-09 5985:Iran shares cast a spell 5871:Retrieved April 9, 2011. 5778:. Nitc.co.ir. 2009-05-09 5405:Retrieved April 30, 2011 5380:. Nitc.co.ir. 2008-12-15 3650: 3643:need a license from the 3493: 3461:the Council of Ministers 2973:: In the first month of 2305:Khouzestan Steel Company 2123:% of Total MC (May 2012) 2015:This indicates that the 1988:Khouzestan Steel Company 1856:Economic sectors in Iran 1841:"Justice Shares" in Iran 1776:online service providers 1622:Iran Mercantile Exchange 1564:New bylaw to facilitate 1542:initial public offerings 1480:Iran Mercantile Exchange 1003:Iran Mercantile Exchange 884:, an arbitration board, 490:Main Indicators for TSE 451:Iran Mercantile Exchange 408:automated trading system 391:privatization initiative 342:Economic history of Iran 196:US$ 1.45 trillion (2023) 8328:Stock exchanges in Iran 8131:Initial public offering 7992:Modern portfolio theory 7887:Dividend discount model 7770:List of stock exchanges 6958:Loghman Pharmaceuticals 6157:The Wall Street Journal 5257:"Tehran Stock Exchange" 4993:Iran Investment Monthly 3588:Iran Investment Monthly 3364:Iranian citizens abroad 3287:well-educated workforce 3222:international sanctions 2661:Daily Average Turnover 2561:The Wall Street Journal 2557:assets under management 2527:Venture capital in Iran 2511:Iranian citizens abroad 2197:Mobarakeh Steel Company 2181:Mobarakeh Steel Company 2129:Market Cap. (June 2014) 1737:international sanctions 1630:Mobarakeh Steel Company 763: 440:Market Development Fund 259:بورس اوراق بهادار تهران 212:TEPIX and TEDPIX (main) 26:بورس اوراق بهادار تهران 8019:Random walk hypothesis 7511:Science and technology 7399:International rankings 7269: 7156:Science and technology 6748:Iran's Capital Markets 6704:TSE Annual Report 2010 6411:Investment regulations 5630:Retrieved May 2, 2011. 3907:. FEAS. Archived from 3436: 3153: 2986:sanctions against Iran 2871: 2118:Market Cap. (May 2012) 1877: 1733:PriceWaterhouseCoopers 1620:option trading on the 1581:and introducing stock 1462:Dubai Financial Market 1242: 1219:floating exchange rate 1033:Over-the-Counter (OTC) 945:Time of order priority 903:Communications in Iran 706:Market Capitalization/ 486: 358: 183: of listings 48: 37: 16:Iranian stock exchange 8157:Market capitalization 7966:Dollar cost averaging 7368:Tehran Stock Exchange 7348:Religious foundations 7333:Ministry of Petroleum 7268:Petrochemical Complex 7264: 7192:Communications and IT 7187:Banking and insurance 7136:Banking and insurance 7053:Tidewater Middle East 6812:Tehran Stock Exchange 6670:at Wikimedia Commons 6668:Tehran Stock Exchange 5621:Tehran Stock Exchange 5506:Iran, a country study 4042:. TSE. Archived from 3860:"TSE Legal structure" 3779:Tabriz Stock Exchange 3774:List of banks in Iran 3426: 3347:Iranian privatization 3311:Privatization in Iran 3295:broad industrial base 3260:devalued its currency 3140: 2979:market capitalization 2926:international dispute 2865: 2649:Overview of Turnover 1896:market capitalization 1871: 1600:are now available at 1538:Privatization in Iran 1452:), nor does it allow 1426:financial instruments 1347:Financial data vendor 1271:Shetab Banking System 1209: 1142:Profitability (Years) 1007:Energy bourse in Iran 803:; other members are: 801:Minister of Economics 742:Industry affiliations 529:Market Capitalization 484: 455:Agricultural Exchange 424:market capitalization 349: 322:banking and insurance 247:Tehran Stock Exchange 204:82,479 million (2009) 47: 36: 20:Tehran Stock Exchange 7977:Fundamental analysis 7961:Contrarian investing 7924:Security market line 7829:Liquidity aggregator 7806:Direct market access 7717:Quantitative analyst 7323:Ministry of Commerce 6873:Data Processing Iran 6312:. Ft.com. 2006-07-03 6195:. Ft.com. 2010-08-25 5331:on November 15, 2012 4814:. Turquoise Partners 4586:on December 13, 2008 3710:Participation papers 3526:Central Bank of Iran 3520:Non-commercial risks 3321:Iranian Constitution 3166:Central Bank of Iran 3039:Lima Stock Exchanges 2994:two major automakers 2034:A comparison of the 1982:Ghadir petrochemical 1765:direct market access 1713:corporate governance 1704:Regulatory framework 1691:Setting up required 1668:participation papers 1570:Council of Ministers 1568:was ratified by the 1440:instruments such as 1198:Central Bank of Iran 1097:Minimum Shareholders 825:Council of Ministers 809:Central Bank of Iran 8222:Reverse stock split 8167:Market manipulation 8091:Dual-listed company 7951:Algorithmic trading 7881:Capital market line 7683:Inter-dealer broker 7419:Dams and reservoirs 7363:Supreme Audit Court 7328:Ministry of Finance 7121:Subsidy reform plan 7033:Sepahan Oil Company 6648:Wall Street Journal 6159:. October 30, 2012. 5512:Library of Congress 5510:. Washington D.C.: 5286:Wall Street Journal 4739:Wall Street Journal 4229:Wall Street Journal 3616:Renaissance Capital 3419:Kish Stock Exchange 3379:Iranian expatriates 3358:Iranian expatriates 3029:. According to the 2650: 2460:Market participants 2109: 2071:gross profit margin 2044:gross profit margin 2008:(over $ 1 billion), 2002:(over $ 1 billion), 1996:(over $ 1 billion), 1990:(over $ 1 billion), 1978:(over $ 1 billion), 1966:($ 2.1 billion MC), 1932:Mobarakeh Steel Co. 1886:energy inefficiency 1882:Wall Street Journal 1711:Creating efficient 1404:Bond market in Iran 1387:Participation bonds 1352:Starting March 2011 1202:Iran's Forex bourse 1061: 1041:Kish Stock Exchange 1035:stock exchange and 993:Market segmentation 909:market transparency 813:Chamber of Commerce 770:Achaemedian dynasty 616:No. of Trading Days 491: 132:Joint Stock Company 92: / 21: 8262:Stock market index 8101:Efficient frontier 8040:Technical analysis 7998:Momentum investing 7820:(private exchange) 7710:Proprietary trader 7652:Shares outstanding 7642:Authorised capital 7501:Labor and tax laws 7409:Nuclear facilities 7270: 6883:Iranol Oil Company 6754:Turquoise Partners 6506:. November 9, 2018 6175:2012-10-08 at the 6008:Investment Monthly 5990:2014-12-17 at the 5948:2013-12-18 at the 5905:2012-01-20 at the 5886:2012-02-04 at the 5855:2012-01-11 at the 5626:2011-07-13 at the 5471:2015-02-26 at the 4998:2012-03-20 at the 4250:Turquoise Partners 3572:Confido Capital OY 3564:Turquoise Partners 3437: 3371:significant stakes 3332:privatization plan 3291:large middle-class 3248:foreign investment 3240:earnings multiples 3154: 3142:Iran's nominal GDP 3016:total market value 2872: 2656:No. Shares Traded 2648: 2484:Government of Iran 2107: 2079:telecommunications 1878: 1837:financial literacy 1761:electronic trading 1741:corporate research 1717:investor relations 1579:derivatives market 1527:privatization plan 1504:electronic trading 1367:in 2015) once the 1309:electronic trading 1243: 1057: 1045:foreign investment 1037:commodity exchange 999:Iranian Oil Bourse 819:, Chairman of the 807:, Governor of the 805:Minister of Trades 787:Government of Iran 489: 487: 442:which is aimed at 374:Islamic Revolution 359: 306:telecommunications 142:Mahmoud Goudarzi ( 49: 38: 19: 8338:Economy of Tehran 8310: 8309: 8111:Flight-to-quality 7863:Buffett indicator 7553:Financial markets 7519: 7518: 7071: 7070: 6963:Machine Sazi Arak 6933:Iranian Aluminium 6888:Ghadir Investment 6863:Chadormalu Mining 6833:AzarAb Industries 6730:Financial Tribune 6666:Media related to 6619:Financial Tribune 6270:. BBC. 2006-07-16 6268:"BBC Persian.com" 5525:978-0-8444-1187-3 5102:Financial Tribune 4968:"Brokerage Firms" 4167:978-1-908180-11-7 4108:on August 4, 2009 3726:Foreign investors 3618:and London-based 3594:became the first 3546:its energy sector 3270:’s (i.e. cheap). 3244:price-to-earnings 3095:the annual budget 2854: 2853: 2813: 2812: 2563:in 2015, Western 2442: 2441: 1880:According to the 1847: 1846: 1828:culture in Iran. 1796:Economic Calendar 1784:global custodians 1757:brokerage network 1745:leading companies 1727:instead of cost. 1594:futures contracts 1484:futures contracts 1185: 1184: 1074:Secondary Market 983:share repurchases 886:digital signature 738: 733:: 1 US $ =10,004 726: 725: 430:and the slump in 287:"frontier" market 243: 242: 96:35.778°N 51.368°E 8350: 8227:Share repurchase 7939:Trading theories 7824:Crossing network 7782:Over-the-counter 7619:Restricted stock 7575:Secondary market 7546: 7539: 7532: 7523: 7522: 7343:Ravand Institute 7098: 7091: 7084: 7075: 7074: 6988:Navard Aluminium 6809: 6808: 6797: 6790: 6783: 6774: 6773: 6763:Iran CSD Company 6720: 6695: 6692: 6691: 6689:Official website 6683: 6680: 6679: 6677:Official website 6665: 6651: 6640: 6634: 6628: 6622: 6612: 6606: 6600: 6594: 6588: 6582: 6576: 6570: 6569: 6567: 6566: 6555: 6549: 6543: 6537: 6536: 6534: 6533: 6522: 6516: 6515: 6513: 6511: 6494: 6488: 6487: 6485: 6484: 6473: 6467: 6466: 6464: 6463: 6452: 6446: 6445: 6425: 6419: 6418: 6406: 6400: 6394: 6388: 6387: 6385: 6384: 6375:. Archived from 6369: 6363: 6362: 6360: 6359: 6348: 6342: 6341: 6339: 6338: 6327: 6321: 6320: 6318: 6317: 6306: 6300: 6299: 6297: 6296: 6285: 6279: 6278: 6276: 6275: 6264: 6258: 6252: 6246: 6236: 6230: 6229: 6227: 6225: 6210: 6204: 6203: 6201: 6200: 6189: 6180: 6167: 6161: 6160: 6149: 6143: 6137: 6131: 6130: 6128: 6127: 6116: 6110: 6109: 6107: 6106: 6095: 6089: 6088: 6086: 6085: 6074: 6068: 6062: 6056: 6055: 6048: 6039: 6038: 6031: 6025: 6024: 6017: 6011: 6005: 5999: 5982: 5969: 5963: 5957: 5940: 5934: 5928: 5922: 5916: 5910: 5897: 5891: 5878: 5872: 5866: 5860: 5847: 5841: 5835: 5829: 5828: 5826: 5825: 5814: 5808: 5807: 5805: 5804: 5793: 5787: 5786: 5784: 5783: 5772: 5766: 5765: 5763: 5762: 5751: 5745: 5744: 5742: 5741: 5732:. Archived from 5726: 5720: 5719: 5717: 5716: 5701: 5695: 5694: 5692: 5691: 5680: 5674: 5673: 5671: 5670: 5655: 5646: 5640: 5631: 5618: 5612: 5611: 5609: 5607: 5592: 5586: 5580: 5574: 5564: 5558: 5557: 5555: 5554: 5543: 5537: 5536: 5534: 5532: 5509: 5499: 5493: 5487: 5476: 5463: 5454: 5453: 5451: 5450: 5444: 5436: 5430: 5429: 5427: 5426: 5420: 5412: 5406: 5400: 5389: 5388: 5386: 5385: 5374: 5365: 5364: 5362: 5361: 5352:. Archived from 5346: 5340: 5339: 5337: 5336: 5321: 5312: 5311: 5309: 5307: 5296: 5290: 5289: 5281: 5272: 5271: 5269: 5268: 5253: 5247: 5246: 5244: 5242: 5227: 5221: 5220: 5218: 5217: 5212:on July 22, 2012 5202: 5196: 5194: 5192: 5185: 5177: 5171: 5170: 5168: 5167: 5161: 5153: 5147: 5146: 5144: 5143: 5137: 5130: 5122: 5113: 5112: 5110: 5109: 5094: 5088: 5087: 5085: 5084: 5073: 5067: 5066: 5064: 5062: 5056: 5048: 5042: 5041: 5036:. Archived from 5030: 5024: 5023: 5021: 5020: 5009: 5003: 4990: 4984: 4983: 4981: 4979: 4964: 4955: 4954: 4952: 4951: 4945: 4939:. Archived from 4938: 4930: 4921: 4915: 4904: 4903: 4901: 4899: 4893: 4886: 4878: 4867: 4866: 4864: 4863: 4852: 4841: 4840: 4833: 4824: 4823: 4821: 4819: 4813: 4805: 4799: 4798: 4796: 4794: 4789: 4781: 4775: 4774: 4772: 4771: 4762:. Archived from 4756: 4743: 4742: 4734: 4728: 4727: 4725: 4724: 4709: 4703: 4702: 4700: 4699: 4684: 4678: 4677: 4675: 4673: 4667: 4661:. Archived from 4660: 4652: 4646: 4645: 4643: 4641: 4630: 4624: 4623: 4621: 4619: 4610:. Archived from 4604: 4595: 4594: 4592: 4591: 4576: 4570: 4569: 4567: 4566: 4555: 4549: 4548: 4546: 4545: 4530: 4519: 4518: 4517:. July 16, 2023. 4507: 4501: 4500: 4499:. July 24, 2023. 4489: 4483: 4482: 4481:. July 24, 2023. 4471: 4465: 4464: 4463:. July 24, 2023. 4453: 4447: 4446: 4434: 4428: 4427: 4426:. July 24, 2023. 4416: 4410: 4409: 4406:www.mehrnews.com 4398: 4392: 4391: 4380: 4374: 4373: 4371: 4370: 4364: 4358:. Archived from 4357: 4349: 4340: 4339: 4337: 4336: 4324: 4311: 4310: 4308: 4307: 4292: 4286: 4285: 4283: 4277:. Archived from 4276: 4268: 4262: 4261: 4259: 4257: 4247: 4239: 4233: 4232: 4224: 4201: 4199: 4197: 4191:. Archived from 4190: 4182: 4176: 4175: 4170:. Archived from 4151: 4142: 4141: 4139: 4138: 4123: 4117: 4116: 4114: 4113: 4098: 4092: 4091: 4089: 4087: 4073: 4067: 4064: 4055: 4054: 4052: 4051: 4036: 4023: 4022: 4020: 4019: 4004: 3979: 3978: 3976: 3974: 3965:. Archived from 3959: 3920: 3919: 3917: 3916: 3901: 3876: 3875: 3873: 3871: 3862:. Archived from 3856: 3850: 3849: 3847: 3845: 3836:. Archived from 3830: 3763: 3758: 3757: 3749: 3744: 3743: 3742: 3716:Listed companies 3657:Taxation in Iran 3636:Iranian American 3620:Sturgeon Capital 3558:Offshore banking 3530:foreign exchange 3506:foreign-currency 3399:FIPPA provisions 3351:Economy Ministry 3283:frontier markets 3228:Market valuation 3208:). According to 3152:(1999-2015 est.) 3127:Growth potential 3099:local industries 2928:surrounding the 2849: 2846: 2840: 2828: 2827: 2820: 2651: 2647: 2631:Industrial Index 2537:investment banks 2517:Funds management 2503:investment firms 2110: 2106: 1860:Industry of Iran 1850:Economic sectors 1525:Continuation of 1514: 1513: 1343:Internet in Iran 1281:Iran Fara Bourse 1277:over-the-counter 1255:foreign exchange 1062: 1056: 1017:Secondary Market 897:Trading platform 838:Islamic products 817:Attorney General 728: 492: 488: 463:over-the-counter 387:economic reforms 260: 224: 182: 122: 120: 119:February 4, 1967 115:February 4, 1967 107: 106: 104: 103: 102: 97: 93: 90: 89: 88: 85: 27: 22: 18: 8358: 8357: 8353: 8352: 8351: 8349: 8348: 8347: 8313: 8312: 8311: 8306: 8297:Voting interest 8207:Public offering 8142:Mandatory offer 8116:Government bond 8096:DuPont analysis 8059: 8055:Value investing 8050:Value averaging 8045:Trend following 8030:Style investing 8025:Sector rotation 7940: 7934: 7913:Net asset value 7839:Stock valuation 7833: 7753: 7661: 7628: 7614:Preferred stock 7589: 7555: 7550: 7520: 7515: 7496:Economic Reform 7464: 7423: 7372: 7358:Social Security 7271: 7256: 7237:Pharmaceuticals 7160: 7107: 7105:Economy of Iran 7102: 7072: 7067: 6983:Mobarakeh Steel 6814: 6803: 6801: 6718: 6693: 6687: 6686: 6681: 6675: 6674: 6659: 6654: 6641: 6637: 6629: 6625: 6613: 6609: 6601: 6597: 6589: 6585: 6577: 6573: 6564: 6562: 6557: 6556: 6552: 6544: 6540: 6531: 6529: 6524: 6523: 6519: 6509: 6507: 6496: 6495: 6491: 6482: 6480: 6475: 6474: 6470: 6461: 6459: 6454: 6453: 6449: 6426: 6422: 6417:, 19 March 2008 6408: 6407: 6403: 6395: 6391: 6382: 6380: 6371: 6370: 6366: 6357: 6355: 6350: 6349: 6345: 6336: 6334: 6329: 6328: 6324: 6315: 6313: 6308: 6307: 6303: 6294: 6292: 6287: 6286: 6282: 6273: 6271: 6266: 6265: 6261: 6253: 6249: 6237: 6233: 6223: 6221: 6212: 6211: 6207: 6198: 6196: 6191: 6190: 6183: 6177:Wayback Machine 6168: 6164: 6151: 6150: 6146: 6138: 6134: 6125: 6123: 6118: 6117: 6113: 6104: 6102: 6097: 6096: 6092: 6083: 6081: 6076: 6075: 6071: 6063: 6059: 6050: 6049: 6042: 6033: 6032: 6028: 6019: 6018: 6014: 6006: 6002: 5992:Wayback Machine 5983: 5972: 5964: 5960: 5950:Wayback Machine 5941: 5937: 5929: 5925: 5917: 5913: 5907:Wayback Machine 5898: 5894: 5888:Wayback Machine 5879: 5875: 5867: 5863: 5857:Wayback Machine 5848: 5844: 5836: 5832: 5823: 5821: 5816: 5815: 5811: 5802: 5800: 5795: 5794: 5790: 5781: 5779: 5774: 5773: 5769: 5760: 5758: 5753: 5752: 5748: 5739: 5737: 5728: 5727: 5723: 5714: 5712: 5703: 5702: 5698: 5689: 5687: 5682: 5681: 5677: 5668: 5666: 5657: 5656: 5649: 5641: 5634: 5628:Wayback Machine 5619: 5615: 5605: 5603: 5594: 5593: 5589: 5581: 5577: 5565: 5561: 5552: 5550: 5545: 5544: 5540: 5530: 5528: 5526: 5500: 5496: 5488: 5479: 5473:Wayback Machine 5464: 5457: 5448: 5446: 5442: 5438: 5437: 5433: 5424: 5422: 5418: 5414: 5413: 5409: 5401: 5392: 5383: 5381: 5376: 5375: 5368: 5359: 5357: 5348: 5347: 5343: 5334: 5332: 5323: 5322: 5315: 5305: 5303: 5298: 5297: 5293: 5282: 5275: 5266: 5264: 5255: 5254: 5250: 5240: 5238: 5237:. 16 April 2015 5229: 5228: 5224: 5215: 5213: 5204: 5203: 5199: 5190: 5183: 5179: 5178: 5174: 5165: 5163: 5159: 5155: 5154: 5150: 5141: 5139: 5135: 5128: 5124: 5123: 5116: 5107: 5105: 5096: 5095: 5091: 5082: 5080: 5075: 5074: 5070: 5060: 5058: 5054: 5050: 5049: 5045: 5032: 5031: 5027: 5018: 5016: 5011: 5010: 5006: 5000:Wayback Machine 4991: 4987: 4977: 4975: 4966: 4965: 4958: 4949: 4947: 4943: 4936: 4932: 4931: 4924: 4916: 4907: 4897: 4895: 4891: 4884: 4880: 4879: 4870: 4861: 4859: 4854: 4853: 4844: 4835: 4834: 4827: 4817: 4815: 4811: 4807: 4806: 4802: 4792: 4790: 4787: 4783: 4782: 4778: 4769: 4767: 4758: 4757: 4746: 4735: 4731: 4722: 4720: 4711: 4710: 4706: 4697: 4695: 4686: 4685: 4681: 4671: 4669: 4665: 4658: 4654: 4653: 4649: 4639: 4637: 4632: 4631: 4627: 4617: 4615: 4606: 4605: 4598: 4589: 4587: 4578: 4577: 4573: 4564: 4562: 4557: 4556: 4552: 4543: 4541: 4531: 4522: 4509: 4508: 4504: 4491: 4490: 4486: 4473: 4472: 4468: 4455: 4454: 4450: 4435: 4431: 4418: 4417: 4413: 4400: 4399: 4395: 4390:. 22 July 2023. 4382: 4381: 4377: 4368: 4366: 4362: 4355: 4351: 4350: 4343: 4334: 4332: 4325: 4314: 4305: 4303: 4294: 4293: 4289: 4281: 4274: 4270: 4269: 4265: 4255: 4253: 4245: 4241: 4240: 4236: 4225: 4204: 4195: 4188: 4184: 4183: 4179: 4168: 4152: 4145: 4136: 4134: 4125: 4124: 4120: 4111: 4109: 4100: 4099: 4095: 4085: 4083: 4075: 4074: 4070: 4065: 4058: 4049: 4047: 4038: 4037: 4026: 4017: 4015: 4014:on May 14, 2011 4006: 4005: 3982: 3972: 3970: 3961: 3960: 3923: 3914: 3912: 3903: 3902: 3879: 3869: 3867: 3858: 3857: 3853: 3843: 3841: 3832: 3831: 3820: 3816: 3792: 3790:Further reading 3759: 3752: 3745: 3740: 3738: 3735: 3704:Interest income 3694: 3672:Share transfers 3659: 3653: 3638: 3628: 3584:Iranian economy 3560: 3554: 3542: 3522: 3502: 3496: 3421: 3411: 3366: 3360: 3313: 3307: 3299:frontier market 3236: 3230: 3224:and inflation. 3214:economic growth 3190:gold being used 3162:economy of Iran 3158:emerging market 3135: 3129: 3051:eurozone crisis 2944:Iranian economy 2860: 2858:Economy of Iran 2850: 2844: 2841: 2838: 2829: 2825: 2818: 2808:93.83 (average) 2803:116,562 (total) 2662: 2657: 2634:Financial Index 2583: 2577: 2531:As of 2009, 21 2529: 2519: 2480: 2462: 2130: 2119: 1866: 1852: 1814:Thomson Reuters 1700:insider trading 1512: 1476: 1470: 1438:Islamic finance 1418:corporate bonds 1406: 1400: 1377: 1361:Thomson Reuters 1349: 1339: 1293: 1273: 1267:Banking in Iran 1263: 1223:Monetary policy 1204: 1190: 1071:Secondary Board 1052:free trade zone 1029:corporate bonds 1009: 995: 905: 899: 878: 872: 863: 793: 791:Islamic banking 783: 766: 744: 344: 338: 220: 139:Key people 118: 116: 100: 98: 94: 91: 86: 83: 81: 79: 78: 25: 17: 12: 11: 5: 8356: 8346: 8345: 8340: 8335: 8330: 8325: 8308: 8307: 8305: 8304: 8299: 8294: 8289: 8284: 8279: 8274: 8269: 8264: 8259: 8257:Stock exchange 8254: 8252:Stock dilution 8249: 8244: 8239: 8234: 8229: 8224: 8219: 8214: 8209: 8204: 8199: 8194: 8189: 8184: 8179: 8177:Mean reversion 8174: 8169: 8164: 8159: 8154: 8152:Market anomaly 8149: 8144: 8139: 8134: 8128: 8123: 8118: 8113: 8108: 8103: 8098: 8093: 8088: 8083: 8078: 8073: 8071:Bid–ask spread 8067: 8065: 8061: 8060: 8058: 8057: 8052: 8047: 8042: 8037: 8032: 8027: 8022: 8016: 8010: 8005: 8000: 7995: 7989: 7984: 7979: 7974: 7968: 7963: 7958: 7953: 7947: 7945: 7936: 7935: 7933: 7932: 7927: 7921: 7916: 7910: 7905: 7900: 7898:Earnings yield 7895: 7893:Dividend yield 7890: 7884: 7878: 7872: 7866: 7860: 7855: 7849: 7843: 7841: 7835: 7834: 7832: 7831: 7826: 7821: 7815: 7809: 7803: 7797: 7791: 7785: 7784:(off-exchange) 7779: 7778: 7777: 7772: 7761: 7759: 7758:Trading venues 7755: 7754: 7752: 7751: 7746: 7745: 7744: 7734: 7729: 7724: 7719: 7714: 7713: 7712: 7707: 7697: 7692: 7687: 7686: 7685: 7680: 7669: 7667: 7663: 7662: 7660: 7659: 7657:Treasury stock 7654: 7649: 7644: 7638: 7636: 7630: 7629: 7627: 7626: 7624:Tracking stock 7621: 7616: 7611: 7606: 7600: 7598: 7591: 7590: 7588: 7587: 7582: 7577: 7572: 7570:Primary market 7566: 7564: 7557: 7556: 7549: 7548: 7541: 7534: 7526: 7517: 7516: 7514: 7513: 7508: 7503: 7498: 7493: 7488: 7483: 7478: 7472: 7470: 7466: 7465: 7463: 7462: 7457: 7455:Petrochemicals 7452: 7447: 7442: 7437: 7431: 7429: 7425: 7424: 7422: 7421: 7416: 7414:Power stations 7411: 7406: 7401: 7396: 7391: 7386: 7380: 7378: 7374: 7373: 7371: 7370: 7365: 7360: 7355: 7350: 7345: 7340: 7335: 7330: 7325: 7320: 7315: 7310: 7305: 7300: 7295: 7290: 7285: 7279: 7277: 7273: 7272: 7259: 7257: 7255: 7254: 7249: 7244: 7239: 7234: 7229: 7224: 7219: 7214: 7209: 7204: 7199: 7194: 7189: 7184: 7179: 7174: 7168: 7166: 7162: 7161: 7159: 7158: 7153: 7148: 7143: 7138: 7133: 7128: 7123: 7118: 7112: 7109: 7108: 7101: 7100: 7093: 7086: 7078: 7069: 7068: 7066: 7065: 7060: 7055: 7050: 7045: 7040: 7035: 7030: 7025: 7020: 7015: 7010: 7005: 7000: 6995: 6993:North Drilling 6990: 6985: 6980: 6975: 6970: 6965: 6960: 6955: 6953:Karafarin Bank 6950: 6945: 6940: 6935: 6930: 6925: 6920: 6915: 6910: 6905: 6900: 6895: 6890: 6885: 6880: 6875: 6870: 6865: 6860: 6855: 6850: 6845: 6840: 6835: 6830: 6825: 6819: 6816: 6815: 6800: 6799: 6792: 6785: 6777: 6771: 6770: 6760: 6758:Iran's economy 6751: 6745: 6739: 6733: 6727: 6721: 6713: 6708: 6707: 6706: 6701: 6684: 6658: 6657:External links 6655: 6653: 6652: 6642:Nikhil Lohade: 6635: 6623: 6607: 6595: 6583: 6571: 6550: 6538: 6517: 6489: 6468: 6447: 6436:(3): 238–256. 6420: 6401: 6389: 6364: 6343: 6322: 6301: 6280: 6259: 6247: 6231: 6205: 6181: 6162: 6144: 6132: 6111: 6090: 6069: 6057: 6040: 6026: 6012: 6000: 5970: 5958: 5935: 5923: 5911: 5892: 5873: 5861: 5842: 5830: 5809: 5788: 5767: 5746: 5721: 5696: 5675: 5647: 5632: 5613: 5587: 5575: 5559: 5538: 5524: 5494: 5477: 5455: 5431: 5407: 5390: 5366: 5341: 5313: 5291: 5273: 5248: 5222: 5197: 5193:on 2014-07-14. 5172: 5148: 5114: 5089: 5068: 5043: 5040:on 2010-08-24. 5025: 5004: 4985: 4956: 4922: 4905: 4868: 4842: 4825: 4800: 4776: 4744: 4729: 4704: 4679: 4647: 4636:. May 19, 2015 4625: 4596: 4571: 4550: 4520: 4502: 4484: 4466: 4448: 4429: 4411: 4393: 4375: 4341: 4312: 4287: 4284:on 2011-11-10. 4263: 4234: 4202: 4198:on 2016-03-03. 4177: 4174:on 2012-12-20. 4166: 4143: 4118: 4093: 4068: 4056: 4024: 3980: 3921: 3877: 3851: 3834:"TSE: History" 3817: 3815: 3812: 3811: 3810: 3805: 3802:978-3843380416 3791: 3788: 3787: 3786: 3781: 3776: 3771: 3765: 3764: 3750: 3734: 3731: 3730: 3729: 3723: 3713: 3707: 3701: 3693: 3690: 3689: 3688: 3687: 3686: 3685:this category. 3682: 3669: 3652: 3649: 3627: 3626:U.S. sanctions 3624: 3553: 3552:Offshore funds 3550: 3541: 3538: 3521: 3518: 3495: 3492: 3491: 3490: 3483: 3479: 3472: 3471: 3468: 3410: 3407: 3359: 3356: 3340:North Drilling 3325:Justice Shares 3309:Main article: 3306: 3303: 3256:dividend yield 3229: 3226: 3202:hyperinflation 3194:store of value 3174:housing market 3168:indicate that 3128: 3125: 3020:Iranian expats 2922:capital flight 2852: 2851: 2832: 2830: 2823: 2817: 2814: 2811: 2810: 2805: 2800: 2797: 2796: 2793: 2790: 2786: 2785: 2782: 2779: 2775: 2774: 2771: 2768: 2764: 2763: 2760: 2757: 2753: 2752: 2749: 2746: 2742: 2741: 2738: 2735: 2731: 2730: 2727: 2724: 2720: 2719: 2716: 2713: 2709: 2708: 2705: 2702: 2698: 2697: 2694: 2691: 2687: 2686: 2683: 2680: 2676: 2675: 2672: 2669: 2665: 2664: 2659: 2654: 2639: 2638: 2635: 2632: 2629: 2626: 2623: 2620: 2609: 2602: 2591: 2576: 2573: 2518: 2515: 2461: 2458: 2440: 2439: 2434: 2429: 2424: 2419: 2414: 2409: 2406: 2405: 2402: 2399: 2394: 2391: 2388: 2383: 2379: 2378: 2375: 2372: 2367: 2364: 2361: 2356: 2352: 2351: 2348: 2345: 2340: 2337: 2334: 2329: 2325: 2324: 2321: 2318: 2313: 2310: 2307: 2302: 2298: 2297: 2294: 2291: 2286: 2283: 2280: 2275: 2271: 2270: 2267: 2264: 2259: 2256: 2253: 2248: 2244: 2243: 2240: 2237: 2232: 2229: 2226: 2221: 2217: 2216: 2213: 2210: 2205: 2202: 2199: 2194: 2190: 2189: 2186: 2183: 2178: 2175: 2172: 2167: 2163: 2162: 2159: 2156: 2151: 2148: 2145: 2140: 2136: 2135: 2132: 2127: 2124: 2121: 2116: 2113: 2017:capital market 2013: 2012: 2009: 2003: 1997: 1991: 1985: 1979: 1973: 1972:($ 2 billion), 1967: 1954: 1953: 1952:at 5.3% of MC. 1947: 1935: 1925: 1924: 1918: 1912: 1906: 1851: 1848: 1845: 1844: 1829: 1824:Promoting the 1821: 1820: 1818:Bloomberg L.P. 1803: 1792: 1791: 1768: 1752: 1751: 1720: 1708: 1707: 1696: 1688: 1687: 1680: 1676: 1675: 1661: 1642: 1641: 1590: 1574: 1573: 1562: 1554: 1553: 1540:. As of 2015, 1534: 1522: 1521: 1518: 1511: 1508: 1492:Karafarin Bank 1469: 1466: 1458:margin trading 1399: 1396: 1395: 1394: 1384: 1376: 1373: 1365:Bloomberg L.P. 1338: 1335: 1311:. As of 2013, 1292: 1289: 1262: 1259: 1247:floating value 1221:" until 2012. 1189: 1186: 1183: 1182: 1179: 1176: 1173: 1167: 1166: 1163: 1160: 1157: 1153: 1152: 1149: 1146: 1143: 1139: 1138: 1135: 1132: 1129: 1125: 1124: 1121: 1118: 1115: 1108: 1107: 1104: 1101: 1098: 1094: 1093: 1090: 1087: 1084: 1076: 1075: 1072: 1069: 1066: 994: 991: 948: 947: 942: 914:trading system 898: 895: 882:online trading 871: 868: 862: 859: 858: 857: 854:capital market 828: 782: 779: 765: 762: 743: 740: 724: 723: 720: 717: 714: 711: 703: 702: 699: 696: 693: 690: 687:Dividend yield 683: 682: 677: 672: 667: 662: 654: 653: 650: 647: 644: 641: 630: 629: 626: 623: 620: 617: 613: 612: 609: 606: 603: 600: 596: 595: 592: 589: 586: 583: 579: 578: 575: 572: 569: 566: 562: 561: 558: 555: 552: 549: 545: 544: 541: 538: 535: 532: 531:(USD Millions) 525: 524: 521: 518: 515: 512: 508: 507: 504: 501: 498: 495: 403:the Parliament 401:together with 337: 334: 294:capital market 241: 240: 236:margin/lending 232:self-regulated 226: 225: 218: 214: 213: 210: 206: 205: 202: 198: 197: 194: 188: 187: 184: 177: 176: 162: 158: 157: 152: 148: 147: 140: 136: 135: 128: 124: 123: 113: 109: 108: 101:35.778; 51.368 76: 72: 71: 65: 61: 60: 58:Stock exchange 55: 51: 50: 40: 39: 29: 28: 15: 9: 6: 4: 3: 2: 8355: 8344: 8341: 8339: 8336: 8334: 8331: 8329: 8326: 8324: 8321: 8320: 8318: 8303: 8300: 8298: 8295: 8293: 8290: 8288: 8285: 8283: 8280: 8278: 8275: 8273: 8270: 8268: 8265: 8263: 8260: 8258: 8255: 8253: 8250: 8248: 8245: 8243: 8240: 8238: 8235: 8233: 8232:Short selling 8230: 8228: 8225: 8223: 8220: 8218: 8215: 8213: 8210: 8208: 8205: 8203: 8200: 8198: 8195: 8193: 8190: 8188: 8185: 8183: 8180: 8178: 8175: 8173: 8170: 8168: 8165: 8163: 8160: 8158: 8155: 8153: 8150: 8148: 8145: 8143: 8140: 8138: 8135: 8132: 8129: 8127: 8124: 8122: 8121:Greenspan put 8119: 8117: 8114: 8112: 8109: 8107: 8106:Financial law 8104: 8102: 8099: 8097: 8094: 8092: 8089: 8087: 8084: 8082: 8081:Cross listing 8079: 8077: 8074: 8072: 8069: 8068: 8066: 8064:Related terms 8062: 8056: 8053: 8051: 8048: 8046: 8043: 8041: 8038: 8036: 8035:Swing trading 8033: 8031: 8028: 8026: 8023: 8020: 8017: 8014: 8011: 8009: 8006: 8004: 8003:Mosaic theory 8001: 7999: 7996: 7993: 7990: 7988: 7987:Market timing 7985: 7983: 7980: 7978: 7975: 7972: 7969: 7967: 7964: 7962: 7959: 7957: 7954: 7952: 7949: 7948: 7946: 7944: 7937: 7931: 7928: 7925: 7922: 7920: 7917: 7914: 7911: 7909: 7906: 7904: 7901: 7899: 7896: 7894: 7891: 7888: 7885: 7882: 7879: 7876: 7873: 7870: 7867: 7864: 7861: 7859: 7856: 7853: 7850: 7848: 7845: 7844: 7842: 7840: 7836: 7830: 7827: 7825: 7822: 7819: 7816: 7813: 7810: 7807: 7804: 7801: 7798: 7795: 7792: 7789: 7786: 7783: 7780: 7776: 7775:Trading hours 7773: 7771: 7768: 7767: 7766: 7763: 7762: 7760: 7756: 7750: 7747: 7743: 7740: 7739: 7738: 7735: 7733: 7730: 7728: 7725: 7723: 7720: 7718: 7715: 7711: 7708: 7706: 7703: 7702: 7701: 7698: 7696: 7693: 7691: 7690:Broker-dealer 7688: 7684: 7681: 7679: 7676: 7675: 7674: 7671: 7670: 7668: 7664: 7658: 7655: 7653: 7650: 7648: 7647:Issued shares 7645: 7643: 7640: 7639: 7637: 7635: 7634:Share capital 7631: 7625: 7622: 7620: 7617: 7615: 7612: 7610: 7607: 7605: 7602: 7601: 7599: 7597: 7592: 7586: 7585:Fourth market 7583: 7581: 7578: 7576: 7573: 7571: 7568: 7567: 7565: 7563: 7558: 7554: 7547: 7542: 7540: 7535: 7533: 7528: 7527: 7524: 7512: 7509: 7507: 7506:Privatization 7504: 7502: 7499: 7497: 7494: 7492: 7489: 7487: 7484: 7482: 7479: 7477: 7474: 7473: 7471: 7467: 7461: 7458: 7456: 7453: 7451: 7448: 7446: 7443: 7441: 7438: 7436: 7433: 7432: 7430: 7426: 7420: 7417: 7415: 7412: 7410: 7407: 7405: 7402: 7400: 7397: 7395: 7394:Economic laws 7392: 7390: 7387: 7385: 7382: 7381: 7379: 7375: 7369: 7366: 7364: 7361: 7359: 7356: 7354: 7351: 7349: 7346: 7344: 7341: 7339: 7336: 7334: 7331: 7329: 7326: 7324: 7321: 7319: 7316: 7314: 7311: 7309: 7306: 7304: 7301: 7299: 7296: 7294: 7291: 7289: 7286: 7284: 7281: 7280: 7278: 7274: 7267: 7263: 7253: 7250: 7248: 7245: 7243: 7240: 7238: 7235: 7233: 7230: 7228: 7225: 7223: 7220: 7218: 7215: 7213: 7210: 7208: 7205: 7203: 7200: 7198: 7195: 7193: 7190: 7188: 7185: 7183: 7180: 7178: 7175: 7173: 7170: 7169: 7167: 7163: 7157: 7154: 7152: 7149: 7147: 7144: 7142: 7139: 7137: 7134: 7132: 7131:Privatization 7129: 7127: 7124: 7122: 7119: 7117: 7114: 7113: 7110: 7106: 7099: 7094: 7092: 7087: 7085: 7080: 7079: 7076: 7064: 7061: 7059: 7056: 7054: 7051: 7049: 7046: 7044: 7041: 7039: 7036: 7034: 7031: 7029: 7026: 7024: 7021: 7019: 7016: 7014: 7011: 7009: 7006: 7004: 7001: 6999: 6996: 6994: 6991: 6989: 6986: 6984: 6981: 6979: 6976: 6974: 6971: 6969: 6966: 6964: 6961: 6959: 6956: 6954: 6951: 6949: 6946: 6944: 6941: 6939: 6936: 6934: 6931: 6929: 6926: 6924: 6921: 6919: 6916: 6914: 6911: 6909: 6906: 6904: 6901: 6899: 6896: 6894: 6891: 6889: 6886: 6884: 6881: 6879: 6876: 6874: 6871: 6869: 6866: 6864: 6861: 6859: 6856: 6854: 6851: 6849: 6848:Bank Pasargad 6846: 6844: 6841: 6839: 6836: 6834: 6831: 6829: 6826: 6824: 6821: 6820: 6817: 6813: 6807: 6798: 6793: 6791: 6786: 6784: 6779: 6778: 6775: 6768: 6764: 6761: 6759: 6755: 6752: 6749: 6746: 6743: 6740: 6737: 6734: 6731: 6728: 6725: 6722: 6717: 6714: 6712: 6709: 6705: 6702: 6700: 6697: 6696: 6690: 6685: 6678: 6673: 6672: 6671: 6669: 6664: 6649: 6645: 6639: 6632: 6627: 6620: 6616: 6611: 6604: 6599: 6592: 6587: 6580: 6575: 6560: 6554: 6547: 6542: 6527: 6521: 6505: 6504: 6499: 6493: 6478: 6472: 6457: 6451: 6443: 6439: 6435: 6431: 6424: 6416: 6412: 6405: 6398: 6393: 6379:on 2008-02-19 6378: 6374: 6368: 6353: 6347: 6332: 6326: 6311: 6305: 6290: 6284: 6269: 6263: 6256: 6251: 6244: 6240: 6235: 6219: 6215: 6209: 6194: 6188: 6186: 6178: 6174: 6171: 6166: 6158: 6154: 6148: 6141: 6136: 6121: 6115: 6100: 6094: 6079: 6073: 6066: 6061: 6054:. 2 May 2020. 6053: 6047: 6045: 6037:. 2018-06-14. 6036: 6030: 6022: 6016: 6009: 6004: 5997: 5993: 5989: 5986: 5981: 5979: 5977: 5975: 5967: 5962: 5955: 5951: 5947: 5944: 5939: 5932: 5927: 5920: 5915: 5908: 5904: 5901: 5896: 5889: 5885: 5882: 5877: 5870: 5865: 5858: 5854: 5851: 5846: 5839: 5834: 5819: 5813: 5798: 5792: 5777: 5771: 5756: 5750: 5736:on 2007-12-22 5735: 5731: 5725: 5711:on 2007-06-23 5710: 5706: 5700: 5685: 5679: 5665:on 2007-09-28 5664: 5660: 5659:"Atieh Bahar" 5654: 5652: 5644: 5639: 5637: 5629: 5625: 5622: 5617: 5602:on 2011-01-05 5601: 5597: 5591: 5584: 5579: 5572: 5568: 5563: 5548: 5542: 5527: 5521: 5517: 5513: 5508: 5507: 5498: 5491: 5486: 5484: 5482: 5474: 5470: 5467: 5462: 5460: 5441: 5435: 5417: 5411: 5404: 5399: 5397: 5395: 5379: 5373: 5371: 5356:on 2008-02-19 5355: 5351: 5345: 5330: 5326: 5320: 5318: 5301: 5295: 5287: 5280: 5278: 5263:on 2011-07-13 5262: 5258: 5252: 5236: 5232: 5226: 5211: 5207: 5201: 5189: 5182: 5176: 5158: 5152: 5138:on 2013-03-10 5134: 5127: 5121: 5119: 5103: 5099: 5093: 5078: 5072: 5053: 5047: 5039: 5035: 5029: 5014: 5008: 5001: 4997: 4994: 4989: 4974:on 2010-08-24 4973: 4969: 4963: 4961: 4946:on 2012-01-23 4942: 4935: 4929: 4927: 4919: 4914: 4912: 4910: 4894:on 2012-01-23 4890: 4883: 4877: 4875: 4873: 4857: 4851: 4849: 4847: 4838: 4832: 4830: 4810: 4804: 4786: 4780: 4766:on 2006-10-04 4765: 4761: 4755: 4753: 4751: 4749: 4740: 4733: 4719:on 2012-03-14 4718: 4714: 4708: 4694:on 2013-02-10 4693: 4689: 4683: 4668:on 2012-03-20 4664: 4657: 4651: 4635: 4629: 4614:on 2011-07-23 4613: 4609: 4603: 4601: 4585: 4581: 4575: 4560: 4554: 4540: 4536: 4529: 4527: 4525: 4516: 4512: 4506: 4498: 4494: 4488: 4480: 4476: 4470: 4462: 4458: 4452: 4444: 4440: 4433: 4425: 4424:روزنامه تعادل 4421: 4415: 4407: 4403: 4397: 4389: 4385: 4379: 4365:on 2011-07-22 4361: 4354: 4348: 4346: 4330: 4323: 4321: 4319: 4317: 4302:on 2008-12-26 4301: 4297: 4291: 4280: 4273: 4267: 4251: 4244: 4238: 4230: 4223: 4221: 4219: 4217: 4215: 4213: 4211: 4209: 4207: 4194: 4187: 4181: 4173: 4169: 4163: 4159: 4158: 4150: 4148: 4133:on 2014-03-28 4132: 4128: 4122: 4107: 4103: 4097: 4082: 4078: 4072: 4063: 4061: 4046:on 2012-06-14 4045: 4041: 4035: 4033: 4031: 4029: 4013: 4009: 4003: 4001: 3999: 3997: 3995: 3993: 3991: 3989: 3987: 3985: 3969:on 2010-08-24 3968: 3964: 3958: 3956: 3954: 3952: 3950: 3948: 3946: 3944: 3942: 3940: 3938: 3936: 3934: 3932: 3930: 3928: 3926: 3911:on 2011-07-17 3910: 3906: 3900: 3898: 3896: 3894: 3892: 3890: 3888: 3886: 3884: 3882: 3866:on 2016-03-22 3865: 3861: 3855: 3840:on 2010-08-24 3839: 3835: 3829: 3827: 3825: 3823: 3818: 3809: 3806: 3803: 3799: 3794: 3793: 3785: 3782: 3780: 3777: 3775: 3772: 3770: 3767: 3766: 3762: 3756: 3751: 3748: 3737: 3727: 3724: 3721: 3717: 3714: 3711: 3708: 3705: 3702: 3699: 3696: 3695: 3683: 3680: 3679: 3677: 3676:Tax Amendment 3673: 3670: 3667: 3666:Cash dividend 3664: 3663: 3662: 3658: 3648: 3646: 3642: 3637: 3633: 3623: 3621: 3617: 3613: 3609: 3605: 3601: 3597: 3593: 3589: 3585: 3581: 3577: 3573: 3569: 3565: 3559: 3549: 3547: 3537: 3535: 3531: 3527: 3517: 3515: 3511: 3510:Iranian banks 3507: 3501: 3488: 3487:pool of money 3484: 3480: 3477: 3476: 3475: 3469: 3466: 3465: 3464: 3462: 3458: 3454: 3452: 3448: 3443: 3434: 3430: 3425: 3420: 3416: 3406: 3404: 3400: 3396: 3392: 3388: 3387:United States 3384: 3380: 3376: 3372: 3365: 3355: 3352: 3348: 3343: 3341: 3337: 3333: 3328: 3326: 3322: 3318: 3312: 3305:Privatization 3302: 3300: 3296: 3292: 3288: 3284: 3280: 3279:New York City 3276: 3273:According to 3271: 3269: 3265: 3261: 3257: 3253: 3249: 3245: 3241: 3235: 3225: 3223: 3219: 3215: 3211: 3210:Goldman Sachs 3207: 3203: 3200:tool against 3199: 3195: 3191: 3187: 3183: 3179: 3175: 3171: 3167: 3163: 3159: 3151: 3150:the Economist 3147: 3143: 3139: 3134: 3124: 3122: 3118: 3116: 3112: 3108: 3106: 3102: 3100: 3096: 3092: 3088: 3086: 3082: 3080: 3076: 3072: 3068: 3066: 3062: 3058: 3054: 3052: 3048: 3042: 3040: 3036: 3032: 3028: 3023: 3021: 3017: 3013: 3009: 3007: 3003: 2999: 2995: 2991: 2987: 2982: 2980: 2976: 2972: 2968: 2965: 2961: 2957: 2955: 2951: 2947: 2945: 2942:drive in the 2941: 2940:privatization 2937: 2933: 2931: 2927: 2923: 2919: 2914: 2910: 2906: 2904: 2900: 2896: 2892: 2888: 2887:New York City 2884: 2880: 2876: 2869: 2864: 2859: 2848: 2845:February 2020 2836: 2831: 2822: 2821: 2809: 2806: 2804: 2801: 2799: 2798: 2794: 2791: 2788: 2787: 2783: 2780: 2777: 2776: 2772: 2769: 2766: 2765: 2761: 2758: 2755: 2754: 2750: 2747: 2744: 2743: 2739: 2736: 2733: 2732: 2728: 2725: 2722: 2721: 2717: 2714: 2711: 2710: 2706: 2703: 2700: 2699: 2695: 2692: 2689: 2688: 2684: 2681: 2678: 2677: 2673: 2670: 2667: 2666: 2663:(million $ ) 2660: 2655: 2653: 2652: 2646: 2644: 2636: 2633: 2630: 2627: 2624: 2621: 2618: 2614: 2610: 2607: 2603: 2600: 2596: 2592: 2589: 2585: 2584: 2582: 2572: 2570: 2566: 2565:fund managers 2562: 2558: 2554: 2550: 2546: 2542: 2538: 2534: 2528: 2524: 2514: 2512: 2507: 2504: 2500: 2495: 2493: 2489: 2485: 2479: 2475: 2471: 2467: 2457: 2454: 2450: 2446: 2438: 2435: 2433: 2430: 2428: 2425: 2423: 2420: 2418: 2415: 2413: 2410: 2408: 2407: 2403: 2400: 2398: 2395: 2392: 2389: 2387: 2384: 2381: 2380: 2376: 2373: 2371: 2368: 2365: 2362: 2360: 2357: 2354: 2353: 2349: 2346: 2344: 2341: 2338: 2335: 2333: 2330: 2327: 2326: 2322: 2319: 2317: 2314: 2311: 2308: 2306: 2303: 2300: 2299: 2295: 2292: 2290: 2287: 2284: 2281: 2279: 2276: 2273: 2272: 2268: 2265: 2263: 2260: 2257: 2254: 2252: 2251:Bank Pasargad 2249: 2246: 2245: 2241: 2238: 2236: 2233: 2230: 2227: 2225: 2222: 2219: 2218: 2214: 2211: 2209: 2206: 2203: 2200: 2198: 2195: 2192: 2191: 2187: 2184: 2182: 2179: 2176: 2173: 2171: 2168: 2165: 2164: 2160: 2157: 2155: 2152: 2149: 2146: 2144: 2141: 2138: 2137: 2133: 2128: 2125: 2122: 2117: 2114: 2112: 2111: 2105: 2103: 2098: 2094: 2092: 2088: 2084: 2080: 2076: 2072: 2068: 2064: 2060: 2056: 2052: 2049: 2048:profit margin 2045: 2041: 2037: 2033: 2029: 2027: 2022: 2018: 2010: 2007: 2004: 2001: 1998: 1995: 1992: 1989: 1986: 1983: 1980: 1977: 1974: 1971: 1968: 1965: 1962: 1961: 1960: 1958: 1951: 1948: 1945: 1944: 1939: 1936: 1933: 1930: 1929: 1928: 1922: 1919: 1916: 1913: 1910: 1907: 1904: 1901: 1900: 1899: 1897: 1893: 1889: 1887: 1883: 1875: 1870: 1865: 1861: 1857: 1842: 1838: 1834: 1830: 1827: 1823: 1822: 1819: 1815: 1811: 1807: 1804: 1801: 1797: 1794: 1793: 1789: 1785: 1781: 1777: 1773: 1769: 1766: 1762: 1758: 1754: 1753: 1750: 1746: 1742: 1738: 1734: 1730: 1726: 1721: 1718: 1714: 1710: 1709: 1705: 1701: 1697: 1694: 1690: 1689: 1685: 1681: 1678: 1677: 1673: 1669: 1665: 1662: 1659: 1658:tax exemption 1655: 1652: 1648: 1644: 1643: 1639: 1635: 1631: 1627: 1623: 1619: 1615: 1611: 1607: 1603: 1599: 1595: 1591: 1588: 1584: 1580: 1576: 1575: 1571: 1567: 1563: 1560: 1556: 1555: 1551: 1547: 1546:book-building 1543: 1539: 1535: 1532: 1528: 1524: 1523: 1519: 1516: 1515: 1507: 1505: 1501: 1497: 1493: 1489: 1485: 1481: 1475: 1465: 1463: 1459: 1455: 1451: 1447: 1443: 1439: 1435: 1431: 1427: 1423: 1419: 1415: 1411: 1405: 1392: 1388: 1385: 1382: 1381: 1380: 1372: 1370: 1366: 1362: 1357: 1353: 1348: 1344: 1334: 1332: 1331: 1330:Nahayat Negar 1326: 1322: 1321: 1316: 1315: 1310: 1306: 1302: 1298: 1288: 1286: 1282: 1278: 1272: 1268: 1258: 1256: 1252: 1248: 1240: 1236: 1232: 1228: 1224: 1220: 1216: 1212: 1208: 1203: 1199: 1195: 1180: 1177: 1174: 1172: 1171:Market Makers 1169: 1168: 1164: 1161: 1158: 1155: 1154: 1150: 1147: 1144: 1141: 1140: 1136: 1133: 1130: 1127: 1126: 1122: 1119: 1116: 1113: 1110: 1109: 1105: 1102: 1099: 1096: 1095: 1091: 1088: 1085: 1082: 1078: 1077: 1073: 1070: 1067: 1064: 1063: 1060: 1055: 1053: 1050: 1046: 1042: 1038: 1034: 1030: 1026: 1024: 1019:, there is a 1018: 1014: 1008: 1004: 1000: 990: 988: 984: 980: 979:Short selling 976: 972: 967: 965: 961: 956: 954: 946: 943: 941: 938: 937: 936: 934: 930: 925: 921: 919: 915: 910: 904: 894: 891: 887: 883: 877: 867: 855: 851: 848:. SEO is the 847: 843: 839: 834: 833: 829: 826: 822: 818: 814: 810: 806: 802: 798: 795: 794: 792: 788: 778: 775: 771: 761: 759: 755: 751: 750: 739: 736: 732: 731:Exchange rate 721: 718: 715: 712: 709: 705: 704: 700: 697: 694: 691: 688: 685: 684: 681: 678: 676: 673: 671: 668: 666: 663: 661: 660: 656: 655: 651: 648: 645: 642: 639: 636: 632: 631: 627: 624: 621: 618: 615: 614: 610: 607: 604: 601: 598: 597: 593: 590: 587: 584: 581: 580: 576: 573: 570: 567: 564: 563: 559: 556: 553: 550: 547: 546: 542: 539: 536: 533: 530: 527: 526: 522: 519: 516: 513: 510: 509: 505: 502: 499: 496: 494: 493: 483: 479: 477: 473: 469: 468: 464: 460: 456: 452: 447: 445: 444:market making 441: 437: 433: 429: 425: 421: 417: 413: 409: 404: 400: 396: 392: 388: 383: 382:Iran–Iraq War 379: 376:leading in a 375: 370: 368: 364: 357: 353: 348: 343: 333: 331: 327: 323: 319: 315: 314:petrochemical 311: 307: 303: 299: 295: 290: 288: 284: 280: 276: 272: 268: 264: 256: 252: 248: 239: 237: 233: 230:Note: TSE is 227: 223: 219: 215: 211: 207: 203: 199: 195: 193: 189: 185: 178: 175: 171: 167: 164:Shares & 163: 159: 156: 153: 149: 145: 141: 137: 133: 129: 125: 114: 110: 105: 77: 73: 69: 66: 62: 59: 56: 52: 46: 41: 35: 30: 23: 8282:Tender offer 8202:Public float 8172:Market trend 8162:Market depth 7982:Growth stock 7956:Buy and hold 7865:(Cap-to-GDP) 7705:Floor trader 7695:Market maker 7678:Floor broker 7666:Participants 7609:Golden share 7604:Common stock 7580:Third market 7367: 7288:Central Bank 7276:Institutions 7197:Construction 7043:Tejarat Bank 7013:Parsian Bank 6998:Offset Press 6868:Darou Pakhsh 6853:Bank Saderat 6838:Bahman Group 6811: 6719:(in Persian) 6694:(in Persian) 6682:(in English) 6660: 6647: 6638: 6626: 6610: 6598: 6586: 6574: 6563:. Retrieved 6561:. Nitc.co.ir 6553: 6541: 6530:. Retrieved 6520: 6508:. Retrieved 6501: 6492: 6481:. Retrieved 6479:. Nitc.co.ir 6471: 6460:. Retrieved 6450: 6433: 6429: 6423: 6410: 6404: 6392: 6381:. Retrieved 6377:the original 6367: 6356:. Retrieved 6354:. Nitc.co.ir 6346: 6335:. Retrieved 6325: 6314:. Retrieved 6304: 6293:. Retrieved 6291:. Nitc.co.ir 6283: 6272:. Retrieved 6262: 6250: 6234: 6222:. Retrieved 6208: 6197:. Retrieved 6165: 6156: 6147: 6135: 6124:. Retrieved 6114: 6103:. Retrieved 6093: 6082:. Retrieved 6080:. Nitc.co.ir 6072: 6060: 6029: 6015: 6003: 5996:Tehran Times 5995: 5961: 5954:Tehran Times 5953: 5938: 5926: 5914: 5895: 5876: 5864: 5845: 5833: 5822:. Retrieved 5812: 5801:. Retrieved 5791: 5780:. Retrieved 5770: 5759:. Retrieved 5749: 5738:. Retrieved 5734:the original 5724: 5713:. Retrieved 5709:the original 5699: 5688:. Retrieved 5678: 5667:. Retrieved 5663:the original 5616: 5604:. Retrieved 5600:the original 5590: 5578: 5570: 5562: 5551:. 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Retrieved 4612:the original 4588:. Retrieved 4584:the original 4574: 4563:. Retrieved 4561:. 2005-05-26 4553: 4542:. Retrieved 4538: 4514: 4505: 4497:اعتمادآنلاین 4496: 4487: 4478: 4469: 4460: 4451: 4442: 4432: 4423: 4414: 4405: 4396: 4387: 4378: 4367:. Retrieved 4360:the original 4333:. Retrieved 4304:. Retrieved 4300:the original 4290: 4279:the original 4266: 4254:. Retrieved 4252:. April 2014 4249: 4237: 4228: 4193:the original 4180: 4172:the original 4156: 4135:. Retrieved 4131:the original 4121: 4110:. Retrieved 4106:the original 4096: 4084:. Retrieved 4071: 4048:. Retrieved 4044:the original 4016:. Retrieved 4012:the original 3971:. Retrieved 3967:the original 3913:. Retrieved 3909:the original 3868:. Retrieved 3864:the original 3854: 3842:. Retrieved 3838:the original 3698:Capital gain 3675: 3660: 3641:U.S. persons 3639: 3590:". In 2014, 3562:As of 2014, 3561: 3543: 3540:Dual listing 3523: 3508:accounts at 3503: 3500:Iranian rial 3473: 3455: 3438: 3383:repatriation 3367: 3344: 3329: 3314: 3272: 3237: 3155: 3120: 3119: 3115:Iranian rial 3110: 3109: 3104: 3103: 3090: 3089: 3084: 3083: 3075:Iranian rial 3073:: Following 3070: 3069: 3065:Iranian rial 3056: 3055: 3043: 3024: 3011: 3010: 2990:equity index 2983: 2975:Iranian 2010 2970: 2969: 2959: 2958: 2949: 2948: 2935: 2934: 2908: 2907: 2874: 2873: 2868:equity index 2842: 2834: 2807: 2802: 2640: 2612: 2605: 2598: 2595:total return 2587: 2553:fixed income 2548: 2541:Mutual funds 2533:mutual funds 2530: 2508: 2499:shareholding 2496: 2481: 2444: 2443: 2436: 2431: 2426: 2421: 2416: 2411: 2131:(million $ ) 2120:(million $ ) 2102:supply chain 2096: 2095: 2054: 2053: 2031: 2030: 2014: 1956: 1955: 1941: 1926: 1903:Basic Metals 1891: 1890: 1879: 1826:shareholding 1786:. See also: 1778:which offer 1747:. See also: 1719:frameworks. 1626:Call options 1488:Parsian Bank 1477: 1407: 1378: 1375:Trading fees 1371:are lifted. 1350: 1328: 1324: 1318: 1312: 1294: 1284: 1274: 1244: 1215:Iranian rial 1020: 1016: 1012: 1011:Besides the 1010: 968: 957: 949: 944: 939: 926: 922: 906: 879: 864: 849: 831: 820: 796: 767: 753: 752:(the former 747: 745: 727: 679: 674: 669: 664: 657: 476:FOREX bourse 466: 454: 448: 428:Iranian rial 397:" where the 371: 360: 300:, including 291: 266: 250: 246: 244: 229: 155:Iranian rial 8287:Uptick rule 8267:Stock split 8247:Squeeze-out 8242:Speculation 8187:Open outcry 8076:Block trade 8008:Pairs trade 7172:Agriculture 7151:Environment 7003:Pars Khodro 6923:Iran Khodro 6843:Bank Mellat 6699:TSE Indexes 5061:December 6, 4898:November 3, 4858:. Irandaily 4818:February 5, 4331:. 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