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31-07-22

TEDPIX closes Saturday’s session 2,700 points down

(MENAFN) TEDPIX, the benchmark index of Tehran Stock Exchange (TSE), decreased by 2,795 points to 1.44 million on Saturday (the initial day of Iranian calendar week).

As mentioned in reports, more than 4.35 billion securities valued at 26.201 trillion rials (nearly USD93.575 million) were exchanged at the TSE.

The first market’s index declined by 3,110 points, and the second market’s index dropped 2,397 points.

TSE is on the four Iranian share exchanges, the additional three ones are Iran Mercantile Exchange (IME), Iran Energy Exchange (IRENEX), as well as Iran’s over-the-counter (OTC) market, identified as Iran Fara Bourse (IFB).

Iranian share market has been suffering for months to get regain its performance, however numerous internal and external aspects have been delaying this market from getting its true potential.

In line with Market Expert Vahid Halalat, the doubt of the worldwide economy in the wake of the Ukraine conflict, the doubt around the outcomes of nuclear meetings, the uncertain state of the privatization of the nation’s main automakers, and mainly, the deficiency of enough attention paid by the government officials to the stock market are a part of the internal and external aspects that have led the capital market to drop behind other markets like housing.

Highlighting that these issues have impacted the mindset of the stockholders and led to everyone to stay away from the market, Halalat stated on July 2 that “Considering internal factors, the country’s major automakers play an important role in the stock market and have a great psychological impact; And since their privatization process has not been realized yet, the validity of the entire project has become questionable.”

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