TEDPIX drops 1,500 points on Tuesday

May 24, 2022 - 15:59

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE) dropped 1,521 points to 1.555 million on Tuesday.

As reported, over 7.982 billion securities worth 47.695 trillion rials (about $183.442 million) were traded at the TSE.

The first market’s index fell 17,612 points, and the second market’s index lost 10,686 points.

As stated by Market Analyst Peyman Hadadi, the national budget bill for the current Iranian calendar year indicates that the government has a more positive view of the market for this year.

According to Hadadi, the allocation of a separate budget for the Capital Market Development and Stabilization Fund shows that the government is taking the necessary measures to provide stronger support for the market and to ensure its growth in the future.

“The allocation of a budget line for the Capital Market Development and Stabilization Fund is considered one of the most important points of the [Iranian calendar year] 1401 budget bill,” Hadadi said.

MA/MA

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