TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 279 points to close at 1.282 million points on Saturday.

Over 8.261 billion securities worth 53.065 trillion rials (about $204 million) were traded at the TSE.

The first market’s index dropped 1,231 points and the second market’s index lost 5,005 points.

TEDPIX dropped 2,000 points (less than one percent) to 1.282 million in the past Iranian calendar week (ended on Friday).

During the past week, the indices of Mobarakeh Steel Company, 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.

Two recent measures taken by the Iranian government indicate that the government is determined to support the capital market and strengthen this market’s role in the national economy.

MA/MA