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  • 05-03-23

    TEDPIX faces decline, reaches 1.788M

    (MENAFN) Tehran Stock Exchange (TSE) faced a decline in its main index, TEDPIX, on Saturday, as it lost 33,558 points and reached 1.788 million. According to reports, over 12.373 billion securities worth 78.618 trillion rials (about $183 million) were traded at the TSE. However, TEDPIX had gained 165,178 points in the past Iranian calendar week that ended on Friday. In contrast, it lost 155,778 points (9.22 percent) in the previous Iranian calendar month Bahman, which ended on February 19.

    TSE is the primary stock exchange in Iran and one of the four Iranian stock exchanges, with the other three being Iran Mercantile Exchange (IME), Iran Energy Exchange (IRENEX), and Iran’s over-the-counter (OTC) market, known as Iran Fara Bourse (IFB). The TSE holds significant importance in Iran's economy as it is the primary platform for investment and capital accumulation.

    In late October 2022, Iran’s Securities and Exchange Organization (SEO) unveiled a comprehensive support package to encourage activities in the capital market. This package was initiated as shareholders were becoming reluctant to invest in the market. The support package consists of several measures, including the insurance of shareholders’ capital and dividends for the next year. The measures also include insuring the shares of real entities, issuing subordinated warrants on shares of fixed income, injecting new resources into the market by sovereign funds to buy shares, depositing up to $130 million of the resources approved in the national budget bill for the Capital Market Development and Stabilization Fund, as well as direct and continuous coordination, supervision, and monitoring of the legal entities active in the capital market, including companies and semi-governmental financial institutions, pension funds, and military institutions.

    Overall, the SEO's support package aims to boost investor confidence in the market and enhance the capital market's stability by creating a favorable environment for investment. It remains to be seen how successful the package will be in restoring investors' trust in the TSE and increasing investment activity in the market.

    MENAFN05032023000045012476ID1105706624

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