TEDPIX dips over 24,000 points on Tuesday

January 5, 2021 - 15:4

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), fell 24,272 points to 1.35 million on Tuesday.

Over 9.857 billion securities worth 104.913 trillion rials (about $2.497 billion) were traded at the TSE on Tuesday.

The first market’s index fell 22,637 points and the second market’s index dropped 31,861 points.

Last week, Finance and Economic Affairs Minister Farhad Dejpasand said that the stock market is now on the right track and has reached a stage that can be trusted in terms of performance.

“Except for the peripheral variables that affect this market, we do not have a specific market disturbance”, the minister stated.

Sometimes the policies that are made in different sectors affect the market, which is natural, he added.

For example, if a price floor is to be set for a commodity group and a ceiling is to be released, it is in the interest of that group, but because it is badly reflected, it has the opposite effect, Dejpasand explained.

The vice-chairman of Tehran Stock Exchange (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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