TEDPIX loses 1,400 points on Sunday

December 26, 2021 - 14:24

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 1,489 points to 1.384 million on Sunday.

Over 5.363 billion securities worth 36.756 trillion rials (about $126.74 million) were traded at the TSE.

The first market’s index drops 1,51 points, and the second market’s index fell 1,68 points.

TEDPIX rose 66,000 points (5.1 percent) to 1.359 million in the past Iranian calendar week (ended on Friday).

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

On December 18, Head of Iran’s Capital Market Development and Stabilization Fund Amir-Mehdi Sabaei has said the National Development Fund of Iran (NDF) is going to deposit 120 trillion rials (about $510 million) into the fund to support the stock market.

“According to a recent decision of the government's Economic Coordination Headquarters, 120 trillion rials of new deposits will be made by the National Development Fund, which will be gradually transferred to the account of the Capital Market Development and Stabilization Fund,” Sabaei said.

Sabaei noted that the fund can also be financed through the money and capital markets; while other proposals such as the transfer of government assets worth 500 trillion rials (about $1.68 billion) to the fund have also been suggested to strengthen the fund's financing capacity.

As IRNA reported, allocation of financial resources from the National Development Fund to the Capital Market Stabilization Fund is one of the measures that the government has been taking since the stock market started a downward trend.

MA/MA

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