TEDPIX loses 19,000 points on Sunday

May 29, 2022 - 14:38

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), dropped 19,110 points to 1.553 million on Sunday.

AS reported, over 9.034 billion securities worth 46.173 trillion rials (about $177.58 million) were traded at the TSE.

The first market’s index dropped 19,360 points, and the second market’s index lost 23,001 points.

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."

He stated that in addition to the crude oil prices, the prices of petrochemical products and metals like copper, zinc, and other commodities have risen.

MA/MA

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