Stock market passes a month with 4 weekly drops

September 11, 2020 - 14:38

TEHRAN- TEDPIX, the main index of the Tehran Stock Exchange (TSE), which is Iran’s major stock exchange, fell four percent in the past Iranian calendar week (ended on Friday).

In this way, the index experienced the fourth weekly drop in a month.

The index stood at 1.556 million points at the end of the past week, IRNA reported.

As reported, most of the trades were conducted through the indices of Tejarat Bank, National Iranian Copper Industry Company, Ghadir Investment Company, Bank Saderat, Mobarakeh Steel Company, Bandar Abbas Oil Refining Company, and Iran Khodro Investment Development Company in the previous week.

TEDPIX had also experienced a five-percent decrease in the week ended on September 4, a two-percent fall in the week ended on August 28, 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.

MA/MA

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