TEDPIX climbs 3,400 points to Monday

November 8, 2021 - 14:26

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), gained 3,499 points to 1.434 million on Monday.

As reported, over 9.907 billion securities worth 58.537 trillion rials (about $1.393 billion) were traded at the TSE.

The first market’s index gained 3,347 points, and the second market’s index rose 4,587 points.

TEDPIX gained 5,000 points (less than three percent) to 1.398 million in the past Iranian calendar week (ended on Friday).

During the past week, the indices of Isfahan Refining Company, National Iranian Copper Industries Company, Mobarakeh Steel Company, Bandar Abbas Refining Company, Sabzevar Pars Steel Complex, and Arian Chimia Tech Industrial Group were the most widely followed ones.

Finance and Economic Affairs Minister Ehsan Khandouzi hosted a meeting with the representatives of over 30 major companies active in the capital market on Monday to exchange ideas for resolving issues and developing the economy.

Speaking in the meeting, Khandouzi said his ministry plans to make the economy more predictable and eliminate pricing systems that are harmful to the capital market and the stock exchange industry, Mehr News Agency reported.

The official noted that the government will follow new strategies to compensate for the budget deficit by making government assets more productive and also by selling surplus properties.

“The task of the Economy Ministry and the Securities and Exchange Organization is to develop tools and institutions in order to create a transparent, efficient, and predictable market,” Khandouzi stated.

Capital market analyst, Soheil Kolahchi, believes the stock market is going to be able to compete with other parallel markets for bringing positive returns to investors in the second half of the current Iranian calendar year (September 22, 2021-March 20, 2022), IRNA reported.

MA/MA

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