TEDPIX drops 500 points on Monday

March 14, 2022 - 14:7

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), fell 595 points to close at 1.334 million points on Monday.

As reported, over 5.206 billion securities worth 37.368 trillion rials (about $143.7 million) were traded at the TSE.

The first market’s index fell 485 points, and the second market’s index dropped 1,044 points.

TEDPIX rose 67,000 points (5.2 percent) to 1.348 million in the past Iranian calendar week (ended on Friday).

During the past week, the indices of Tehran Oil Refining Company, Mobarakeh Steel Company, Iran Khodro Company, Saipa Company, National Iranian Copper Company, Social Security Investment Company, and Isfahan Oil Refinery 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."

MA/MA

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