TEDPIX drops nearly 7,000 points on Saturday

June 12, 2021 - 15:14

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), fell 6,973 points to 1.144 million on Saturday, which is the first day of Iranian calendar week.

Over 5.426 billion securities worth 33.702 trillion rials (about $802.4 million) were traded at the TSE on Saturday.

The first market’s index fell 5,644 points, and the second market’s index lost 12,248 points.

TEDPIX rose 3,000 points, or less than one percent, in the past Iranian calendar week.

The index closed at 1.151 million points on Wednesday (the last working day of the week).

During the past week, the indices of Iran Khodro Company, Saipa Company, Isfahan Oil Refining Company, Barekat Pharmaceutical Group (BPG), and Zarmakarun Industrial Company were the most widely followed indices.

Iranian market analyst Hassan Balazadeh has proposed three solutions for improving the trend of the stock market and resolving some of the problems that the market is currently wrestling with.

Revising the regulations regarding the public float stock, determining ceiling and limitation for the Initial Public Offerings (IPOs), and finally establishing a support fund for certain stocks were the solutions that Balazadeh has proposed.

MA/MA

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