TEDPIX slides 909 points on Monday

April 26, 2021 - 15:34

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), fell 909 points to 1.186 million on Monday.

Over 3.888 billion securities worth 31.441 trillion rials (about $748.5 million) were traded at the TSE on Monday.

The first market’s index fell 1,851 points, and the second market’s index dropped 2,420 points.

TEDPIX dropped 36,000 points, or three percent, in the past Iranian calendar week.

The index closed at 1.207 million points on Wednesday (the last working day of the week).

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

TEDPIX had risen eight percent in the last week of the past Iranian calendar year (ended on March 20).

The index increased 101,000 points to 1.307 million in that week.

The current trend of stock exchange trading will continue until relative stability is established in the market and the investors are expected to return to the market, the capital market expert Amirali Amir-Aqaei stated.

“The demand side is now waiting for the internal and international political condition to become clear, and investors will invest in the stock market again as soon as the horizons are clear,” Amir-Aqaei told IRNA last week.

The point to be noted is that the increase in the sales side in the market over the past week was due to the clearing of the political outlook, the elimination of the expected high inflation, and the outlook for higher exchange rates, the expert said.

According to Amir-Baqeri, traders came to the conclusion that it is likely that a stagnant atmosphere will prevail in the country’s physical markets in the short run, and consequently the capital market has been affected by this issue.

He referred to the trend of trades in the previous Iranian calendar month (March 21-April 20) and continued: “In the first half of the previous year, the market index recorded a peak of near 2.3 million units; reaching such a peak was somewhat justifiable considering the very high exchange rate and the inflation rate.

MA/MA

Leave a Comment

2 + 0 =