TSE rises amid growing hopes for nuclear deal

The main index of Tehran Stock Exchange (TSE) has increased amid growing hopes for a nuclear deal between Iran and P5+1 group of countries.

The Tehran Stock Exchange Index (TEDPIX) rose by 176 units to close at 65,122 points on Monday, the third working day this week.

Over 2.1 billion shares worth more than 5.1 trillion rials (nearly $186mn) were traded at Tehran stock market.

Nuclear talks

The latest gains come against the backdrop of rising hopes for a final nuclear deal between Iran and the five permanent members of UN Security Council plus Germany.

Iran’s Foreign Minister Mohammad Javad Zarif and US Secretary of State John Kerry held discussions for five hours in Lausanne on Monday.

Zarif is to hold nuclear talks with his British, German and French counterparts in Brussels later on Monday.

The outlook for Iran’s economic growth remains bright with growing expectations for a comprehensive nuclear deal between Iran and the P 5+1 group (including the US, UK, France, Russia, China and Germany). The two sides have until July 1 to reach an agreement. Any possible deal, which will ultimately lift international sanctions against Iran, is expected to give considerable impetus to the country’s capital market, and turn it into one of the hottest investment opportunities.