TEDPIX drops 25,000 points on Sunday

January 23, 2022 - 16:58

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 25,254 points to 1.256 million on Sunday.

Over 5.941 billion securities worth 35.494 trillion rials (about $419.68 million) were traded at the TSE.

The first market’s index fell 20,744 points, and the second market’s index dropped 43,586 points.

TEDPIX lost 55,000 points (4.3 percent) to 1.279 million in the past Iranian calendar week (ended on Friday).

During the past week, the indices of Mobarakeh Steel Company, Bandar Abbas Oil Refining Company, Isfahan Oil Refinery, Tehran Oil Refining Company, Iran Khodro Company, Saipa Company, and National Iranian Copper Company were the most widely followed ones.

Capital market in a country eliminates the enterprises’ need for external financing that requires forex rate risk; and plays an important role in risk sharing and the effectiveness of capital allocation in various economic sectors, and as a result increases economic growth and welfare in society.

In Iran, where the capital market plays a small role in the long-term financing of enterprises, the government can play an important role in the development of the capital market and take initiatives to develop this market and increase its efficiency.

MA/MA

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