TEDPIX drops 27,400 points on Saturday

TEHRANTEDPIX, the main index of the Tehran Stock Exchange (TSE), lost 27,441 points to 1,366 million on Saturday (the first day of the Iranian calendar week).

As reported, more than 4.904 billion securities worth 38.839 trillion rials (about $924.7 million) were traded on the TSE.

The index of the first market lost 21,135 points and the index of the second market fell 52,035 points.

TEDPIX lost 16,000 points (1.1 percent) to 1,394 million in the past Iranian calendar week (ending Friday).

During the past week, the indices of Isfahan Refining Company, Mobarakeh Steel Company, Social Security Investment Company and Barekat Pharmaceutical Group were the most followed.

At a meeting with the representatives of more than 30 major companies active in the capital market on Nov. 1, to exchange ideas for solving problems and developing the economy, Finance and Economy Minister Ehsan Khandouzi said that his ministry plans to make the economy more predictable and abolish pricing systems that are harmful to the capital market and the stock market.

The official noted that the government will adopt new strategies to offset the budget deficit by making government assets more productive and also by selling excess property.

“The job of the Ministry of Economy and the Securities and Exchange Organization is to develop tools and institutions to create a transparent, efficient and predictable market,” Khandouzi said.

Meanwhile, the head of SEO said on Nov. 22 that facilitating the activities of stock exchange institutions such as brokers will lead to the development of the capital market.

“Facilitating the creation of brokerage firms and the ease of licensing financial institutions, as well as the strict SEO oversight of the activities of such financial institutions, are the foundation for capital market development,” said Majid Eshqi.

MOM