TEHRAN – TEDPIX, the main index of Tehran Stock Exchange (TSE), dropped 40,466 points to 1.489 million on Sunday.

As reported, over 7.51 billion securities worth 61.914 trillion rials (about $1.474 billion) were traded at the TSE on Sunday.

The first market’s index lost 36,745 points and the second market’s index dropped 59,346 points.

TEDPIX gained 6,000 points, or less than one percent, in the past Iranian calendar week.

The index closed at 1.526 million points on Wednesday (the last working day of the week).

During the past week, the indices of Bandar Abbas Oil Refinery, Mobarakeh Steel Company, State Retirement Fund, Social Security Investment Company, Isfahan Oil Refinery, and Barekat Pharmaceutical Group were the most widely followed indices.

A capital market analyst has said the trades at the Tehran Stock Exchange are going to follow an upward trend in the remaining months of the current Iranian calendar year (ends in March 2022).

“Based on the forecasts, it seems that the stock market trading will experience a positive trend and be upward by the end of this year due to the current inflation in the country's economy,” Soheil Kolahchi told IRNA last week.

Emphasizing the parameters affecting stock market transactions, he said: “A few days of correction in the market paved the way for the return of the upward trend in stock trading, in this regard, the future of this market in the medium term can be considered as upward.”

“Another issue that can affect the stock market in the near future is the nuclear deal and the outcome of the negotiations, which can to some extent affect the trading process in this market,” the expert added.

Kolahchi further stressed the need to change some of the regulations in the stock market and said: “Issues such as the base volume and the amplitude in the market are among the topics whose change has been discussed many times.”

Back in July, Market Analyst Mehdi Bayat-Manesh had said that TEDPIX, the TSE’s main index, is going to improve in the second half of the current Iranian calendar year.

Bayat-Manesh noted that considering the current trend of capital inflow into the market TEDPIX is expected to rise in the mentioned period.

According to Bayat-Manesh, the government policies for supporting the upward trend of the market should continue in the coming months in order to ensure this upward trend.

MA/MA