TEDPIX slides 10,000 points on Sunday

February 21, 2021 - 16:11

TEHRAN- TEDPIX, the main index of the Tehran Stock Exchange (TSE), dropped 10,051 points on Sunday.

Over 2.027 billion securities worth 25.185 trillion rials (nearly $600 million) were traded in the TSE on Sunday.

The first market’s index dropped 8,821 points, and the second market’s index fell 15,213 points.

TEDPIX had risen two percent in the past Iranian calendar week.

During the past week, the indices of Iran Khodro Group, Saipa Company, Social Security Investment Company, Tehran Oil Refining 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.