TSE’s main index experiences 3.5% weekly drop

January 1, 2021 - 14:18

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), which is Iran’s major stock exchange, fell 3.5 percent in the past Iranian calendar week (ended on Friday).

The index closed at 1.398 million points on Wednesday (December 30, 2020), which was the last working day of the previous week.

During the five working days of the past week, the indices of Iran Khodro Group, Social Security Investment Company, Saipa Company, 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, 2020), hit the record high of two million points on August 2, 2020, but then it began to drop, coming down to 1.2 million points. 

Then after a period of correction, the index started to climb.

The vice-chairman of the TSE’s board of directors has recently said that the stock market will spend the last months of the current Iranian calendar year (ends on March 20, 2021) calmly.

Mentioning investigation of the periodical (six-month and nine-month) reports of the companies’ performance, Javad Eshqi-Nejad said that given the foreign currency exchange rate situation and the appropriate sales volume, in this period, almost the expectations of listed companies have been met and positive results have been provided for the capital market.

Regarding the continuation of the stock market trend in the next three months, he said: “In this regard, the main issue is political relations and international behavior; We seem to be achieving good results in the international arena.”

While predicting that the stock market will be calm in the last months of this year, he said: "But for the next year, according to the budget, we may face new events whose analysis can have special effects on various industries; in a way that these effects may be associated with some industries for the next 2-3 years.”

MA/MA

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