TEDPIX climbs 26,000 points on Wednesday

June 23, 2021 - 14:25

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), rose 26,101 points to 1.213 million on Wednesday.

Over 10.375 billion securities worth 67.805 trillion rials (about $1.614 billion) were traded at the TSE on Wednesday.

The first market’s index rose 24,090 points, and the second market’s index rose 35,716 points.

Mohammad-Ali Dehqan Dehnavi, the head of Iran's Securities and Exchange Organization (SEO), has announced that the organization’s advisory council has proposed two new programs for supporting the stock market in the current Iranian calendar year (started on March 21).

The details of the mentioned programs dubbed "capital market policy package to support production and eliminate obstacles" and “the plan to improve the position and performance of the capital market" were presented in a meeting between Dehqan Dehnavi and the members of the SEO Advisory Council.

“The capital market has witnessed great changes in the past two years and has grown significantly in terms of size, the volume of activity, and presence of people. These rapid developments have changed some of the equations [in the market],” Dehnavi said following the mentioned meeting.

He emphasized that the structure and facilities of the stock market should be reviewed and modified based on the size and volume of today's market and the issues it faces.

“New capacities should be created not only in the structure of the stock exchange organization [SEO] but also in all sectors of the market in order to adequately respond to the existing needs,” the official said.

According to the official, the first of the above-mentioned programs, namely "capital market policy package to support production and eliminate obstacles" has been prepared by the SEO Research Center to tackle the issues that the stock market is facing in supporting domestic production.

“It provides solutions to more than 40 to 50 capital market challenges and issues in this regard,” he noted.

In the second program, the necessity and ways of improving the position and performance of the capital market are discussed and the raised issues and problems will be addressed through specialized working groups with the presence of experts, analysts, capital market activists and managers from different sectors.

MA/MA

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