TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), dropped 2,708 points to 1.436 million on Monday.

Over 9.8 billion securities worth 107.03 trillion rials (about $2.548 billion) were traded at the TSE on Monday.

The first market’s index fell 2,414 points, and the second market’s index lost 3,951 points.

TEDPIX had stood at 1.413 million points at the end of the previous Iranian calendar week (Friday).

During the past week, the indices of Iran Khodro Group, Social Security Investment Company, Saipa Company, Tejarat Bank, Esfahan Oil Refining Company, and National Iranian Copper Industry Company were the most widely followed indices.

TEDPIX, which had been experiencing a surprisingly rising trend since the last days of the previous Iranian calendar year (ended on March 19), hit the record high of two million points on August 2, but then it began to drop, coming down to 1.2 million points.

After a period of correction, the index has been recently climbing.

Earlier this month, Ahmad Eshtiaqi, a market analyst, told IRNA that the index will continue its upward trend until the end of the current Iranian calendar year (March 20, 2021) and is expected to reach 1.8 million points by the end of the year.

MA/MA