TEDPIX loses 8,400 points on Wednesday

July 6, 2022 - 14:56

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 8,477 points to 1.502 million on Wednesday.

As reported, over 5.192 billion securities worth 31.748 trillion rials (about $114.2 million) were traded at the TSE.

The first market’s index dropped 7,224 points, and the second market’s index fell 13,914 points.

Iranian stock market has been struggling for months to get back on track, however various internal and external factors have been hindering this market from reaching its true potential.

According to Market Analyst Vahid Halalat, the uncertainty of the global economy in the wake of the Ukraine war, the uncertainty about the results of nuclear talks, the unclear situation of the privatization of the country’s major automakers, and most importantly, the lack of enough attention paid by the government officials to the stock market are among the internal and external factors that have caused the capital market to fall behind other markets such as housing.

Emphasizing that these factors have affected the mindset of the shareholders and caused everyone to stay away from the market, Halalat said on July 2: “Considering internal factors, the country’s major automakers play an important role in the stock market and have a great psychological impact; And since their privatization process has not been realized yet, the validity of the entire project has become questionable.”

He further mentioned the possible positive impact that reaching an agreement in nuclear talks could have on the market, saying: “We hope that the negotiations will come to a conclusion. Because in that case, it can have long-term and short-term effects on the stock market and reduce the return gap that has been created between the stock market and other parallel markets.”

MA/MA

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