TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 1,895 points to 1.317 million on Saturday.

As reported, over 6.307 billion securities worth 31.491 trillion rials (about $108.5 million) were traded at the TSE on Saturday.

The first market’s index dropped 1,822 points and the second market’s index lost 2,499 points.

TEDPIX gained over 7,000 points in the past Iranian calendar week (ended on Friday).

TSE is one of the four Iranian stock exchanges, the other three ones are Iran Mercantile Exchange (IME), Iran Energy Exchange (IRENEX), and Iran’s over-the-counter (OTC) market, known as Iran Fara Bourse (IFB).

Unprecedented fluctuations in the Iranian stock market over the past few months have led shareholders, experts, and scholars to call for the government to increase its support for the market.

Following the rising concerns over the market conditions, in early April, the Government Economic Coordination Headquarters, in its 216th meeting, approved some new directives for regulating the stock market.

An Iranian capital market analyst believes that various internal and external factors have contributed to the current downward trend in the stock market and no single person or entity is at fault for the situation.

“The current situation in the capital market (the decline in the market index) cannot be attributed to a specific person, organization or institution; Rather, various factors have come together and created the basis for such a trend in the market,” Shahin Cheraghi told IRNA.

Emphasizing that internal and external factors such as rising bank interest rates, global price reductions, and JCPOA negotiations have had an impact on the recent market trend, he added: “It cannot be claimed that the recent drop in the stock market index was caused by the actions of the government.”

According to the expert, the uncertainty about the JCPOA negotiation process has led to investors' doubts about injecting their funds into different markets.

“We have had predicted the creation of such an atmosphere for the market some time ago,” he said.

MA/MA