TEDPIX down 15,400 points on Tuesday

September 7, 2021 - 15:34

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 15,401 points to 1.523 million on Tuesday.

Over 9.84 billion securities worth 80.181 trillion rials (about $1.909 billion) were traded at the TSE on Tuesday.

The first market’s index lost 16,621 points, and the second market’s index drops 14,336 points.

Iran’s new Minister of Finance and Economic Affairs Ehsan Khandouzi has previously underlined the capital market as one of the major priorities of his ministry during his tenure.

Increasing the role of the capital market in financing production companies and projects, diversifying financial instruments in the capital market, eliminating unnecessary regulations and barriers, facilitating the entry of companies into the stock market, reducing the cost of issuing bonds by facilitating relevant regulations, canceling monopolies and facilitating licensing for stock market-related services such as portfolio management, marketing, and brokerage, reforming corporate governance to manage conflict of interest between major and minor stakeholders and finally providing incentives for people to invest indirectly in the capital market have been mentioned as the major programs that the economy ministry is going to pursue in order to improve the capital market.

According to Khandouzi, the stock market is one of the most important pillars of the economy as it will play a significant role in financing government projects and supporting economic growth.

The market analysts say that Khandouzi’s plans for the stock market have sent positive signals to the market.

One of the signals that have been received by the capital market is that the new government is strongly opposed to regulatory pricing and believes that supply and demand should determine the stock prices, Market Analyst Rouzbeh Shariati told ISNA.

The best way for the stock market is for the government not to intervene in the pricing processes and Khandouzi has stressed this fact again and again in his programs, Shariati said.

MA/MA

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