July 2, 2022

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TEDPIX drops 15,000 points on Saturday

TEDPIX drops 15,000 points on Saturday – Tehran Times

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 15,286 points to 1.579 million on Saturday (the first day of Iranian calendar week).

As reported, over 9.074 billion securities worth 62.387 trillion rials (about $300 million) were traded at the TSE.

The first market’s index lost 11,209 points and the second market’s index dropped 30,747 points.

TEDPIX 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 20, 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.

MA/MA



Original News : https://www.tehrantimes.com/news/472814/TEDPIX-drops-15-000-points-on-Saturday

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