TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), dropped 3,766 points to 1.966 million on Saturday, which is the first day of Iranian calendar week.

As reported, over 8.367 billion securities worth 61.629 trillion rials (about $128.3 million) were traded at the TSE.

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). 

A stock market analyst has said the market is expected to follow an upward trend in the summer and will continue to improve by the end of the season.

“Considering the fluctuations and drops that occurred in the market during Ordibehesht (the second Iranian calendar month starting on April 21), we are now seeing signs of optimism in the market, and considering this, the future of this market is expected to be positive,” Ali Jebel-Ameli said.

“There does not seem to be any new news in the field of foreign policy that can have a negative impact on the market, but what should be considered is the volume and value of transactions, which are now affected by the country’s economic conditions,” the expert added.

MA