TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), dropped 8,813 points to 1.492 million on Tuesday.

As reported, over 8.283 billion securities worth 48.052 trillion rials (about $165.7 million) were traded at the TSE.

The first market’s index lost 8,281 points, and the second market’s index dropped 12,087 points.

TEDPIX climbed 70,000 points to 1.472 million in the past Iranian calendar week (ended on Friday).

Iranian Finance and Economic Affairs Ministry said in a statement that fluctuations in the capital market are normal and not every decrease in the market index means the market is constantly falling.

In response to some negative reports by local newspapers about the recent decline of the Tehran Stock Exchange’s main index, the ministry released a statement scolding the mentioned reports for inducing doubts about the future of the stock market.

“Inducing doubt about the future of the stock market is not a logical approach in a situation where an atmosphere of hope is becoming dominant [in the market],” the statement read.

“Contrary to the approach of the previous government [administration], the 13th government has not looked at the stock market as a means for generating income and has always tried to support the capital market,” the statement said.

The government's view of the stock market in the past year has been a strategic one, and it has provided a series of supports with a short-term, medium-term, and long-term view of the stock market, and the support has never been done for a specific period and with a short-term view only, the ministry stressed.

MA/MA