TEDPIX drops 414 points on Tuesday

July 13, 2021 - 16:6

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 414 points to 1.303 million on Tuesday.

As reported, over 7.935 billion securities worth 67.351 trillion rials (about $1.6 billion) were traded at the TSE on Tuesday.

The first markets’ index dropped 1,148 points, and the second market’s index lost 201 points.

TEDPIX rose 43,000 points in the past Iranian calendar week (ended on Friday).

Iranian stock market is expected to follow an upward trend as the country’s foreign currency exchange market has become more stabilized over the past few months, according to stock market analyst Azim Sabet.

“As one of the important factors in the market, [foreign] exchange rates have reached a stage of stability; therefore, one can expect a reasonable upward trend in the market,” Sabet told IRNA on Saturday.

He pointed to the effective measures taken for improving the current trend of stock exchange transactions and added: “One of the significant issues regarding the stock market’s current trading environment is the management of fluctuations in the market.”

The expert stressed that people should not expect the stock market to always follow an upward trend, saying: "Sometimes companies report on their performance and activities in a certain period of time and shareholders must use that information to make decisions based on the value of the companies."

Exchange transactions can take a reasonable course if the macroeconomics of the country is managed and no sudden changes are made, he said.

MA/MA

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