TEHRAN- TEDPIX, the main index of Tehran stock Exchange (TSE), dropped 9.6 percent during the past Iranian calendar week (ended on October 23).

A number of factors contributed to the drop of the index in the previous week, among them it could be referred to the Industry, Mining, and Trade Ministry’s pricing of steel products at Iran Mercantile Exchange (IME), according to Jamal Razaghi, the head of Shiraz Chamber of Commerce.

While TSE has been witnessing drop of its main index over the past two months, many experts believe that TEDPIX may return to the growing trend, as it has experienced enough correction over the past two months, Razaghi stated.

The government’s decisions to compensate for the budget deficit is also one of the factors to affect the stock market in the coming weeks, he noted.

TEDPIX had hit the record high of two million points on August 2, and while it had been experiencing an unprecedented trend of rising over the recent months, it witnessed several weekly drops since mid-August.

MA/MA