TEDPIX loses 5,000 points on Saturday

April 9, 2022 - 14:49

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 5,099 points to 1.458 million on Saturday.

As reported, over 9.334 billion securities worth 50.471 trillion rials (about $198 million) were traded at the TSE.

The first market’s index lost 5,798 points, and the second market’s index dropped 3,891 points.

TEDPIX rose 31,637 points (2.2 percent) to 1.463 million in the past Iranian calendar week (ended on Friday).

The index is expected to follow a mild upward trend in the current Iranian calendar year 1401 (started on March 21), a market analyst told IRNA on April 3.

“The capital market index experienced a significant decline in [the Iranian calendar year] 1399 (ended on March 21, 2021) and the transactions at this market also undergone some correction in the previous year. Therefore, it seems that given the relative stability of macroeconomic variables, we will see a slight growth in the market index during the current year,” Ali Teymouri said.

According to Teymouri, the main risks threatening the capital market in the current year are budget-related issues, as well as government and central bank exchange rate policies following a possible nuclear agreement.

Transparency in the economic policies of the new government, as well as the resolution of issues related to the nuclear deal, can create stable conditions for the country's economy, which can in return ensure a good outlook for the capital market, the analyst added.

In the last few months of last year, the capital market experienced some turbulence due to the ambiguities about the outcomes of the Vienna talks.