Every day seems to bring another round of tumbling global stock markets, but at least one country's shares are jumping.

Iran's stock market is having a big week, up 5 percent — despite plunging oil prices — after international economic sanctions against the country were lifted over the weekend. The Tehran Stock Exchange is still down almost 40 percent from its peak in January , but now that sanctions related to Iran's nuclear program have evaporated, market-watchers inside the Islamic Republic are seeing the money pour back in. CEO Ramin Rabii of Turquoise Partners, one of Iran's largest brokerage firms, described the mood among investors as "euphoric.

Performance appraisals of ICT companies in the Tehran stock market: contradiction with the global trend: Economic Research-Ekonomska Istraživanja: Vol 29, No 1

Turquoise Partners actively manages 90 percent of all foreign money that flows into Iran's stock market. Most of that money comes from Europe and the Middle East. The fund is focused mainly on Iran's commodity sector and consumer stocks. The firm has holdings in Iran's pharmaceutical and telecom sectors. Turquoise is also keeping an eye on Iranian banks and financial stocks as banking sanctions melt away.

Rabii said he's surprised by the media attention that is often so concentrated around Iran's oil sector. While the low price of oil is certainly hurting the country's economy, it has less of a effect on the Tehran Stock Exchange.

Because the state owns many of the oil companies, they are not listed on the exchange. If Iran floods world oil markets with more crude oil, those already low oil prices are very likely to drop further. The chief working theory in the oil market now is that Iran will soon start producing 3.

Tehran Stock Exchange - Wikipedia

Either way, he said, oil will have only a marginal impact on Iran's economy and stock market. Though nuclear sanctions against Iran are easing, the United States still has other sanctions in full force against Iran for human rights abuses, ballistic missile production and the country's support for terrorism.

So while Rabii says "the Iranian stock market is cheap, valuations are great," American investors still will not be able to put money into Iran as they can in other emerging markets.

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Register Log In Profile Email Preferences PRO Sign Out. World Heat Map Pre-Mkt US Americas Asia EU. Iran's stock market roars as sanctions go away Jason Gewirtz. A trader speaks with a stock market official beneath the electronic board at the Tehran Stock Exchange, Sept.

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