TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 13,870 points to 1.291 million on Sunday.

As reported, over 4.547 billion securities worth 30.411 trillion rials (about $104.8 million) were traded at the TSE.

The first market’s index dropped 12,582 points, and the second market’s index lost 20,321 points.

TEDPIX lost 56,000 points (4.3 percent) to 1.293 million in the past Iranian calendar week (ended on Friday).

During the past week, the indices of Mobarakeh Steel Company, Iran Khodro Company, Social Security Investment Company, National Copper Company, and Barekat Pharmaceutical Group were the most widely followed ones.

Head of Iran’s Securities and Exchange Organization (SEO) Majid Eshqi said a 10-part support package has been prepared for supporting the stock market and Finance and Economic Affairs Minister Ehsan Khandouzi is going to unveil the package soon.

“The 10-article package for supporting the capital market has been approved by the Government Economic Coordination Headquarters and the details of the proposals will be announced by Minister of Finance and Economic Affairs,” Eshqi said.

Based on the mentioned package, the government is going to prevent a sharp rise in the costs of the industrial production sectors and will also help Capital Market Development and Stabilization Fund, according to the official.

In addition to the specific budget line provided in the next fiscal year budget bill, the fund is expected to be provided a much bigger funding, approximately 10 times the allocated figure in the national budget bill, through the transfer of shares and other financing methods so that it can do its job, Eshqi explained.

MA/MA