November 28, 2022

Persian News

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TEDPIX drops 2,700 points on Saturday

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 2,795 points to 1.44 million on Saturday (the first day of Iranian calendar week).

As reported, over 4.35 billion securities worth 26.201 trillion rials (about $93.575 million) were traded at the TSE.

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

TSE is on the four Iranian stock exchanges, the other three ones are Iran Mercantile Exchange (IME), Iran Energy Exchange (IRENEX), and Iran’s over-the-counter (OTC) market, known as Iran Fara Bourse (IFB).

Iranian stock market has been struggling for months to get back on track, however various internal and external factors have been hindering this market from reaching its true potential.

According to Market Analyst Vahid Halalat, the uncertainty of the global economy in the wake of the Ukraine war, the unclear situation of the privatization of the country’s major automakers, and most importantly, the lack of enough attention paid by the government officials to the stock market are among the internal and external factors that have caused the capital market to fall behind other markets such as housing.

Emphasizing that these factors have affected the mindset of the shareholders and caused everyone to stay away from the market, Halalat said: “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.”

MA/MA

Original News : https://www.tehrantimes.com/news/475180/TEDPIX-drops-2-700-points-on-Saturday

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