TEDPIX drops 31,500 points on Saturday

TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 31,566 points to 1.657 million on Saturday (the first day of Iranian calendar week).

As reported, over 14.683 billion securities worth 84.16 trillion rials (about $210.4 million) were traded at the TSE.

The first market’s index dropped 28,570 points, and the second market’s index lost 46,812 points

TSE is one of the four Iranian stock exchanges, and the most important one. 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 government has allocated 150 trillion rials (about $394.7 million) to the country’s Capital Market Stabilization and Development Fund (CMSDF) in the budget bill for the next Iranian calendar year 1402 (begins on March 21) to support small shareholders, Tasnim news agency reported on January 1.

As reported, the government has decided to supply the mentioned fund from the shares of state-owned companies to protect small shareholders against the risks of the capital market.

Also, in order to strengthen the companies active in the market, a part of their profit which is allocated to increasing their capital is going to be exempted from tax; this will encourage such companies to increase capital and expand their activities.

MA/MA

Original News : https://www.tehrantimes.com/news/481075/TEDPIX-drops-31-500-points-on-Saturday