TEDPIX drops 14,700 points on Monday

September 13, 2021 - 15:39

TEHRAN – TEDPIX, the main index of Tehran Stock Exchange (TSE), dropped 14,709 points to 1.475 million on Monday.

As reported, over 8.817 billion securities worth 64.176 trillion rials (about $1.528 billion) were traded at the TSE on Monday.

The first market’s index lost 9,049 points and the second market’s index dropped 35,016 points.

TEDPIX gained 6,000 points to 1.526 million in the past Iranian calendar week (ended on Friday).

During the past week, the indices of Bandar Abbas Oil Refinery, Mobarakeh Steel Company, State Retirement Fund, Social Security Investment Company, Isfahan Oil Refinery, and Barekat Pharmaceutical Group were the most widely followed indices.

A capital market analyst has said the trades at the Tehran Stock Exchange are going to follow an upward trend in the remaining months of the current Iranian calendar year (ends in March 2022).

“Based on the forecasts, it seems that the stock market trading will experience a positive trend and be upward by the end of this year due to the current inflation in the country's economy,” Soheil Kolahchi told IRNA last week.

Emphasizing the parameters affecting stock market transactions, he said: “A few days of correction in the market paved the way for the return of the upward trend in stock trading, in this regard, the future of this market in the medium term can be considered as upward.”

“Another issue that can affect the stock market in the near future is the nuclear deal and the outcome of the negotiations, which can to some extent affect the trading process in this market,” the expert added.