TEDPIX loses 1,400 points on Sunday

TEHRANTEDPIX, the main index of the Tehran Stock Exchange (TSE), lost 1,489 points to 1,384 million on Sunday.

More than 5.363 billion securities worth 36.756 trillion rials (about $126.74 million) were traded on the TSE.

The index of the first market fell by 1.51 points and the index of the second market fell by 1.68 points.

TEDPIX rose 66,000 points (5.1 percent) to 1,359 million in the past Iranian calendar week (closed on Friday).

During the past week, the indices of Mobarakeh Steel Company, Iran Khodro Company, Saipa Company, Social Security Investment Company, National Copper Company and Barekat Pharmaceutical Group were the most tracked.

On December 18, Amir-Mehdi Sabaei, head of Iran’s Capital Market Development and Stabilization Fund, said that the National Development Fund of Iran (NDF) will deposit 120 trillion rials (about $510 million) into the fund to support the stock market. .

“According to a recent decision by the government’s headquarters for economic coordination, the National Development Fund will make 120 trillion rials in new deposits, which will be gradually transferred to the account of the Capital Market Development and Stabilization Fund,” said Sabaei.

Sabaei noted that the fund can also be financed through the money and capital markets; while other proposals, such as the transfer of state assets worth 500 trillion rials (about $1.68 billion) to the fund have also been proposed to strengthen the fund’s financing capacity.

As IRNA reported, the allocation of funds from the National Development Fund to the Capital Market Stabilization Fund is one of the measures taken by the government since the stock market started a downward trend.

MOM