TEDPIX rises 36,400 points on Saturday

October 2, 2021 - 13:52

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), gained 36,497 points to 1.473 million on Saturday (the first day of Iranian calendar week).

As reported, over 7.076 billion securities worth 72.873 trillion rials (about $1.735 billion) were traded at the TSE on Saturday.

The first market’s index gained 30,574 points, and the second market’s index rose 61,589 points.

TEDPIX rose 3.6 percent in the past Iranian calendar week.

The index closed at 1.437 million points on Wednesday (the last working day of the week).

During the past week, the indices of Social Security Investment Company, Bandar Abbas Refinery, National Iranian Copper Industries Company, Sepid Makian Company, and Barekat Pharmaceutical Group were the most widely followed ones.

A capital market analyst has said the trades at the Tehran Stock Exchange are going to follow an upward trend in the remaining months of the current Iranian calendar year (ends in March 2022).

“Based on the forecasts, it seems that the stock market trading will experience a positive trend and be upward by the end of this year due to the current inflation in the country's economy,” Soheil Kolahchi has told IRNA.

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.

MA/MA

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