TEDPIX drops 88,000 points on Sunday

August 16, 2020 - 15:41

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), which is Iran’s major stock exchange, fell 88,000 points on Sunday.

As reported by Mehr news agency, the index closed at 1.815 million points at the end of the Sunday trades.

TEDPIX, which experienced a two-percent drop in the past Iranian calendar week (ended on Friday), has been on a decreasing trend also in this week, as it fell 72,447 points on Saturday.

The index had hit the record high of two million points on August 2, but closed at 1.975 million points in the previous week.

As reported, the indices of Iran Khodro Investment Development Company, National Iranian Copper Industry Company, Ghadir Investment Company, Bank Saderat, Mobarakeh Steel Company, and Bandar Abbas Oil Refining Company were the major contributors to the index’s rise in the past week.

TEDPIX, which had been experiencing an unprecedented trend of rising over the recent months, experienced several days of drop in the past week, and it has started the present week with a sharp decline as well.

The index had surpassed two million points on August 2 and through gaining 45,672 points it stood at 2.007 million, notching up another outstanding record in the current Iranian calendar year (started on March 20).

It had hit the record high of 1.5 million points on June 30, and then it climbed half a million points in just one month to hit the record high of two million.

MA/MA

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