TEHRAN- TEDPIX, the main index of the Tehran Stock Exchange (TSE), lost 6,937 points to 1.419 million on Sunday.

As reported, over 7.668 billion securities worth 38.846 trillion rials (about $133.4 million) were traded at the TSE.

The first market’s index lost 7,484 points, and the second market’s index dropped 6,526 points.

TEDPIX lost 9,000 points to 1.31 million 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).

Iranian Finance and Economic Affairs Ministry has said the government plans to continue supporting the stock market in the long run and shareholders can count on the government’s strategic support.

“The government, along with its short-term and temporary measures to support the stock market, has a long-term strategic plan to continue supporting the market in the future,” the ministry said in a statement released on Tuesday (November 8).

The ministry’s statement was released in response to an article published by Sharq Newspaper titled "fear and hope in the capital market" in which some worries regarding the future of the market have been addressed.

The government managed to show its serious support for the capital market with its recent support package, the statement read.

“Of course, the 13th government has always supported the capital market and the stability and outlook of the market have always been important for the government. Of course, the capital market and the developments in this market are affected by the instrumental view of the past as well as the real economic developments in the country and the changes of different variables and risks in the political, economic, commercial, and social fields,” the ministry stated.

Iran’s Securities and Exchange Organization (SEO) has unveiled a comprehensive support package to encourage activities in the capital market as shareholders are getting reluctant to invest in the market.

As announced by the SEO Office of Public Relations, one of the major measures considered in this package is the insurance of shareholders’ capital and dividends over the next year.

The comprehensive support package of the capital market, which was designed in late October and has been reviewed by the country's economic authorities, was put in effect as of October 29.

EF/