TSE’s main index drops 4% in a week

January 28, 2022 - 15:0

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 50,000 points (four percent) to 1.229 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, Iran Khodro Company, Saipa Company, and National Iranian Copper Company were the most widely followed ones.

Government Economic Coordination Headquarters in its latest meeting has approved five new resolutions for supporting the country’s stock market, and the directives in this regard have been sent to relative ministries, First Vice President Mohammad Mokhber announced on Wednesday.

The mentioned resolutions include the reduction of petrochemical feed prices, the reduction of interbank interest rates, the restriction of the sale of securities, preventing the increase of government mining salaries, and the increase of the exchange rate of banks.

According to Mokhber, the decisions made in the meeting of the Government Economic Coordination Headquarters have been communicated with Finance and Economic Affair Minister Ehsan Khandouzi, Minister of Industry, Mining and Trade Reza Fatemi-Amin, Oil Minister Javad Oji, Head of Planning and Budget Organization (PMO) Masoud Mir-Kazemi, and Governor of Central Bank of Iran (CBI) Ali Saleh-Abadi.

Speaking about the positive impacts of the mentioned decisions on the capital market, Finance Minister Ehsan Khandouzi said on Tuesday that the mentioned resolutions carry the message of government’s serious support for industries and indicate stable economic activity, predictability of variables, and ultimately a positive outlook for the economy in the coming months.

MA/MA

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