TEDPIX loses 5,400 points on Sunday

May 15, 2022 - 16:21

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), dropped 5,431 points to 1.572 million on Sunday.

Over 12.511 billion securities worth 75.286 trillion rials (about $250.95 million) were traded at the TSE.

The first market’s index lost 5,443 points, and the second market’s index dropped 6,403 points.

As published on the website of TSE, 58.919 billion securities worth 351.381 trillion rials (about $1.171 billion) were traded at the exchange during the past Iranian calendar week (ended on Friday, May 13).

As reported, 27.161 billion securities worth 178.394 trillion rials (about $594.646 million) had been traded at the TSE, which is Iran’s major stock exchange, during the week ended on May 6.

A market analyst believes that the Iranian stock exchange market can grow by 30 percent by the end of the current Iranian calendar year (March 20, 2023).

In an interview with IRNA on May 8, Ahmad Eshtiaqi pointed to the growth of the stock market index and the factors affecting it and said: “It seems that the shares of companies still have room for growth and according to the forecasts, the stock market can grow by about 30 percent by the end of the year, but this growth will be gradual and slow.”

The analyst noted that the shareholders’ interest in the capital market over the past few years has been due to the value of companies' stock, so when the shares still have room to grow, the market index will grow as well.

The capital market expert further mentioned another factor influencing the rise of the stock market index and continued: "World prices rose sharply after the Russia and Ukraine war and oil prices reached more than $100, and this has affected the performance of some companies to some extent."

MA/MA

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