TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), dropped 3,572 points to 1.279 million on Sunday.

As reported, over 3.837 billion securities worth 27.475 trillion rials (about $105.67 million) were traded at the TSE.

The first market’s index lost 5,072 points and the second market’s index gained 408 points.

TEDPIX gained 6,000 points (less than one percent) to 1.288 million in the past Iranian calendar week (ended on Friday).

During the past week, the indices of Isfahan Oil Refinery, Tehran Oil Refining Company, Bandar Abbas Oil Refining Company, Iran Khodro Company, Saipa Company, National Iranian Copper Company, and Bank Mellat were the most widely followed ones.

The government has applied several new changes in the national budget bill for the next Iranian calendar year (begins on March 21) which according to experts and analysts will ensure the stock market’s stability and growth in the coming years.

Reducing taxes on production units active in the stock market, strengthening the Capital Market Development and Stabilization Fund, eliminating subsidized foreign currency allocations, and stabilizing the ownership interest of the mines are some of the measures considered in the budget bill to support the capital market.

MA/MA