TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 3,000 points to 1.410 million in the past Iranian calendar week (ended on Friday).

The index had risen 131,000 points (10.21 percent) to 1.414 million points in the Iranian calendar week ended on November 11.

As reported, it was the highest weekly rise during the current Iranian calendar year (began on March 21).

After a long period of decline, the stock market transactions finally returned to the upward cycle from the last three weeks and under the influence of the decisions taken by the government and the Securities and Exchange Organization (SEO), and increased the hope of shareholders to invest again in this market and obtain a reasonable return from it.

TSE is one of the four Iranian stock exchanges, and the most important one. 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 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.

MA/MA