TEDPIX drops 12,900 points on Monday

May 9, 2022 - 14:0

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE) lost 12,901 points to 1.54 million on Monday.

As reported, over 10.651 billion securities worth 58.6 trillion rials (about $210 million) were traded at the TSE.

The first market’s index dropped 11,781 points, and the second market’s index lost 18,766 points.

A capital market expert said that the Iranian economy is expected to experience significant growth in the next two years, adding: "This will be a good thing for the capital market and we will see a positive effect on the market as well."

In an interview with IRNA on April 25, Hamid Mir-Moeini pointed to the return of growth to the trend of stock exchange transactions and the factors affecting it, saying: “After the downward trend in the past [Iranian calendar] year (ended on March 20), the capital market finally returned to an uptrend in the last days of the year, paving the way for some optimism in the market for the current year.”

“The resumption of growth in the stock exchange transactions over the last week of Esfand (last month of the Iranian calendar year) was due to the optimism that was influenced by the nuclear talks and this event affected the whole market,” he added.

According to Mir-Moeini, in the new year, however, some of the optimism about the Vienna negotiations waned, and this resulted in a decline in market transactions, but the stock market index continued its upward trend due to the debate over the privatization of the country’s automakers and offering their shares in the market.

"There is still optimism about the nuclear negotiations, and this could be a major factor in removing sanctions and improving the activities of companies, which will greatly improve the capital market transactions," the market analyst stressed.

MA/MA

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