TEDPIX climbs 35,000 points on Sunday

February 7, 2021 - 15:1

TEHRAN- TEDPIX, the main index of the Tehran Stock Exchange (TSE), rose 35,151 points to 1.17 million on Sunday.

The first market’s index gained 30,780 points, and the second market’s index rose 53,435 points on Sunday.

Following Iran's Securities and Exchange Organization (SEO)’s passing new regulations on Friday in order to facilitate and adjust transactions in the capital market, it seems that growth has returned to the TSE.

Elaborating on the new regulations, the SEO Head Mohammad-Ali Dehqan Dehnavi has announced that first, in order to support the capital market and strengthen the demand side, the Capital Market Development Fund was allowed to finance up to 30 trillion rials (about $714.2 million) through the issuance of subordinated securities.

Secondly, it was also decided to increase the stock price adjustment coefficient and the shares’ pre-emptive rights in credit transactions from 45 percent to 60 percent, the official explained.

According to the third enactment, it was decided to review the executive instructions for the purchase, maintenance, and offering of treasury shares, with considerations for facilitating the purchase and maintenance by issuers.

MA/MA

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