TEDPIX drops 2.8% in a week

February 5, 2021 - 11:36

TEHRAN- TEDPIX, the main index of the Tehran Stock Exchange (TSE), fell 2.8 percent in the past Iranian calendar week.

The index closed at 1.173 million points on Wednesday (the last working day of the week).

During the past week, the indices of Iran Khodro Group, Saipa Company, Social Security Investment Company, and Isfahan Oil Refinery were the most widely followed indices.

After several weeks of drop, TEDPIX could finally register growth in the Iranian calendar week ended on January 29.

The index rose two percent to stand at 1.207 million points in that week.

In early August 2020, when all the major stocks around the world were experiencing serious declines, TEDPIX surpassed two million points.

This situation created some skepticism among investors regarding the creation of a bubble in the market, and some economists and market analysts also warned about the government’s over-interfering in this market.

The government, however, continued offering more and more of its entities on the market and further encouraged people to invest in the market.

Turning the fears of the investors into reality, TEDPIX started a downward trend in mid-August and has since slumped about 38 percent.

What President Hassan Rouhani called one of the most “astonishing rises” in the history of the stock market, became one of the most dramatic swings on record.