TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 27,441 points to 1.366 million on Saturday (the first day of Iranian calendar week).

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

The first market’s index lost 21,135 points, and the second market’s index dropped 52,035 points.

TEDPIX lost 16,000 points (1.1 percent) to 1.394 million in the past Iranian calendar week (ended on 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 widely followed ones.

In a meeting with the representatives of over 30 major companies active in the capital market, on November 1, to exchange ideas for resolving issues and developing the economy, Finance and Economic Affairs Minister Ehsan Khandouzi said his ministry plans to make the economy more predictable and eliminate pricing systems that are harmful to the capital market and the stock exchange industry.

The official noted that the government will follow new strategies to compensate for the budget deficit by making government assets more productive and also by selling surplus properties.

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

Meanwhile on November 22, The SEO head said facilitation of the activities of stock market institutions like brokers will lead to the development of the capital market.

“Facilitating the establishment of brokerage firms and the ease of licensing issuance for financial institutions, as well as the strict supervision of the SEO over the activities of such financial institutions, are the basis for the development of the capital market,” Majid Eshqi stated.

MA/MA