TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 845 points to close at 1.282 million points on Wednesday.

As reported, over 6.596 billion securities worth 50.228 trillion rials (about $193 million) were traded at the TSE.

The first market’s index dropped 1,116 points and the second market’s index fell 170 points.

TEDPIX lost 17,000 points (1.3 percent) to 1.284 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, Tejarat Bank, and National Iranian Copper Company were the most widely followed ones.

Earlier on January 25, President Raisi had called on all related authorities to take the necessary measures for resolving the stock market problems.

Following the president’s remarks, his cabinet held a meeting with the presence of the head of Planning and Budget Organization (PBO), the first vice president, the vice president for economic affairs, and the head of the country’s Securities and Exchange Organization (SEO) to discuss ways for resolving the mentioned issues and to support the market.

Meanwhile, on January 22, Head of Iran’s Capital Market Development and Stabilization Fund Amir-Mahdi Sabaei said that part of the allocations by the National Development Fund (NDF) has been deposited into the stabilization fund to support the stock market.

Sabaei had previously announced the allocation of 120 trillion rials (about $450 million) of NDF resources for the Capital Market Development and Stabilization Fund.

MA/MA