TEDPIX loses 2,400 points on Wednesday

June 16, 2021 - 13:54

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 2,460 points to 1.147 million on Wednesday.

Over 6.213 billion securities worth 35.468 trillion rials (about $844.4 million) were traded at the TSE on Wednesday.

The first market’s index dropped 802 points, and the second market’s index lost 8,394 points.

Head of Iran's Securities and Exchange Organization (SEO) said that the stock market has found a special place in the country's economy so that it is impacting other major areas like politics.

Speaking at the 24th board meeting of the Tehran Chamber of Commerce Industries Mines and Agriculture (TCCIMA) on Tuesday, Mohammad-Ali Dehqan Dehnavi said: “The presence of people in the capital market has provided us with a new tool, and this new tool must be used to eliminate the shortcomings and financial problems of the industries active in this market.”

Stating that people have welcomed the stock exchange and invested major capital in this market, the official added: “The capital market has developed by the people’s presence, and along with it the role of this market in the country's economy has also expanded.”

Dehqan Dehnavi emphasized the fact that the decline in the stock market’s main index has not been an extraordinary incident and the trend of this market has been in line with other parallel markets in the country.

“The stock index has moved in line with other markets and the concept of "bubble" cannot be used for this market,” he said.

MA/MA

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