TEDPIX drops 7,000 points on Sunday

April 24, 2022 - 14:47

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 7,487 points to 1.504 million on Sunday.

As reported, over 8.66 billion securities worth 52.32 trillion rials (about $190.2 million) were traded at the TSE.

The first market’s index rose 8,717 points, while the second market’s index dropped 5,082 points.

TEDPIX gained 58,000 points (four percent) to 1.512 million in the past Iranian calendar week (ended on Friday).

As reported, the indices of Tehran Oil Refining Company (TORC), Iran Khodro Investment Development Company (IKIDO), Social Security Investment Company (SSIC), Iran Khodro Company (IKCO), Saipa Company, and Isfahan Oil Refinery were the mostly followed ones during the past week.

TEDPIX also rose 145,000 points (10.5 percent) in the past Iranian month Farvardin, the first month of the Iranian calendar year (March 21-April 20).

Former Deputy Industry, Mining, and Trade Minister Mehdi Karbasian believes that the stock market can provide the liquidity required by the country’s productive sectors to perform at full capacity, IRNA reported on April 10.

“All around the world, investor liquidity is a major source of capital for production units which is mostly provided by the banking system or the capital market, but in Iran, it [growing liquidity] is considered as an issue,” Karbasian said.

Pointing to the important role of the capital market in removing barriers to production and creating the necessary conditions for the realization of the slogan of the current Iranian calendar year (started on March 21) which is named “Production: Knowledge-Based and Job-Creating” the official added: “There are several factors affecting the production process in the country, each of which should be considered separately.”

MA/MA

Leave a Comment

1 + 7 =