TEDPIX climbs 11,500 points on Wednesday

September 29, 2021 - 15:16

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), rose 11,574 points to 1.437 million on Wednesday.

Over 7.813 billion securities worth 67.342 trillion rials (about $1.6 billion) were traded at the TSE on Wednesday.

The first market’s index rose 9,498 points, and the second market’s index gained 20,192 points.

TEDPIX fell 7.3 percent in the past Iranian calendar week (ended on Friday).

Iran’s new Minister of Finance and Economic Affairs Ehsan Khandouzi has previously underlined the capital market as one of the major priorities of his ministry during his tenure.

Increasing the role of the capital market in financing production companies and projects, diversifying financial instruments in the capital market, eliminating unnecessary regulations and barriers, facilitating the entry of companies into the stock market, reducing the cost of issuing bonds by facilitating relevant regulations, canceling monopolies and facilitating licensing for stock market-related services such as portfolio management, marketing, and brokerage, reforming corporate governance to manage conflict of interest between major and minor stakeholders and finally providing incentives for people to invest indirectly in the capital market have been mentioned as the major programs that the economy ministry is going to pursue in order to improve the capital market.

According to Khandouzi, the stock market is one of the most important pillars of the economy as it will play a significant role in financing government projects and supporting economic growth.