TEDPIX falls 4,400 points on Tuesday

March 29, 2022 - 14:48

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 4,420 points to 1.414 million on Tuesday.

As reported, over 12.97 billion securities worth 48.687 trillion rials (about $187.2 million) were traded at the TSE.

The first market’s index rose 8,689 points, and the second market’s index dropped 7,946 points.

The governor of the Central Bank of Iran (CBI) has announced that the bank plans to collaborate with the country’s Securities and Exchange Organization (SEO) to launch money market mutual funds in the present Iranian calendar year (started on March 21).

“One of the plans of the central bank and the securities and exchange organization for this year is to launch money market funds that [currently] exist in the world but not in Iran, so we hope to create them in the present year,” Ali Saleh-Abadi stated on March 15.

Saleh-Abadi made the remarks at the unveiling ceremony of SEO’s new capital market assessment and monitoring system in Tehran.

“Due to the development of the capital market, the increase in the volume of stock transactions, and the emergence of new instruments, this market also needs more monitoring and observation,” the official said, underlining the significant role of the mentioned system.

Emphasizing that such instruments will help develop and create a healthy business environment in the capital market, Saleh-Abadi said: “Article 2 of the securities market law states that creating a transparent, fair and efficient market is one of the major duties of the Securities and Exchange Organization, so this type of oversight and monitoring can help ensure fairness, transparency of transactions and appropriate access to market information.”