TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), gained 6,000 points (less than one percent) to 1.288 million in the past Iranian calendar week (ended on Friday).

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

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 $430 million) of NDF resources for the Capital Market Development and Stabilization Fund.

The official said the rest of the funding will also be paid based on a mutually agreed schedule, adding: "We hope that the rest of the deposits, like the deposits made yesterday, will be made regularly according to the agreed schedule."

Sabaei noted that in addition to the resources received from the NDF, the fund can also be financed through the money and capital markets.

The allocation of financial resources from NDF 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