TEDPIX drops 742 points on Tuesday

May 5, 2020 - 16:10

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), which is the country’s major stock exchange, fell 742 points to 978,362 on Tuesday, IRNA reported.

The index dropped after several days of unprecedented jumps, as it even experienced a growth of 35,000 in a single day.

As reported, the indices of Mobarakeh Steel Company, Golgohar Mining and Industrial Company, Persian Oil and Gas Development Group, and National Iranian Copper Industry Company were the biggest contributors to the TEDPIX’s drop on Tuesday.

While the past Iranian calendar year (ended on March 19) was full of success for the TSE, the market is also preserving its successful performance in the current year, and the noticeable point in this due is that the other economic sectors are experiencing some declining trend due to the coronavirus pandemic.

We have been witnessing new record highs continuously posted by the exchange since the year start, and through notching the record high of 900,000 points on May 2, climbing to the peak of one million points, something almost unbelievable just some time ago, is expected for TEDPIX.

MA/MA

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