TEDPIX drops over 52,000 points on Wednesday

September 2, 2020 - 15:40

TEHRAN- TEDPIX, the main index of the Tehran Stock Exchange (TSE), which is Iran’s major stock exchange, fell 52,902 points to 1.631 million on Wednesday, IRNA reported.

Over 12.971 billion securities worth 81.241 trillion rials (about $1.934 billion) were traded at the TSE on Wednesday.

The first market’s index dropped 40,959 points and the second market’s index went down 97,654 points.

TEDPIX fell two percent in the past Iranian calendar week (ended on Friday) for the third consecutive week.

The index stood at 1.718 million points at the end of the past week.

TEDPIX had experienced an 11.3-percent drop in the week ended on August 21, and a two-percent fall in the week ended on August 14.

It should be mentioned that the index had hit the record high of two million points on August 2, and while it had been experiencing an unprecedented trend of rising over the recent months, it witnessed several days of drop in the past three weeks.

While Iran’s stock market has not received any external shocks such as those form the foreign currency exchange rate, inflation, parallel markets, and international issues, some internal factors have caused the recent drops in this market.


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