TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), dropped 16,061 points to 1.957 million on Saturday (the first day of Iranian calendar week).
As reported, over 6.864 billion securities worth 53.503 trillion rials (about $108.2 million) were traded at the TSE.
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).
Head of Iran’s Securitas and Exchange Organization (SEO) Majid Eshqi said on Thursday that using the capacities of the country’s private sector in the stock market has been one of the main strategies of the organization over the past year.
“One of the main approaches of the Securitas and Exchange Organization during the past year has been to use the power of the private sector, because government entities and the public sector do not have the necessary characteristics for economic prosperity, so we must increase the share of the private sector in the capital market,” Eshqi said in a conference in Khorasan Razavi Province.
Large industries have their own problems and fluctuations, but small and medium-sized enterprises (SMEs) can compensate for these fluctuations, the official said, adding that the main part of the world economy is moving towards small and medium-sized companies because value, employment, and innovation lie in such companies.
Original News : https://www.tehrantimes.com/news/488071/TEDPIX-drops-16-000-points-on-Saturday