Breaking: TSE witnesses 3% drop of its main index in a week
TEHRAN- TEDPIX, the main index of Tehran Stock Exchange (TSE), dropped 36,000 points, or three percent, in the past Iranian calendar week.
The index closed at 1.207 million points on Wednesday (the last working day of the week).
During the past week, the indices of Social Security Investment Company, National Iranian Copper Industry Company, Iran Khodro Company, Isfahan Oil Refining Company, and Bank Mellat were the most widely followed indices.
TEDPIX had risen eight percent in the last week of the past Iranian calendar year (ended on March 20).
The index increased 101,000 points to 1.307 million in that week.
After several days of decline, TEDPIX had risen 2,824 points to 1.219 million on Tuesday.
Unprecedented fluctuations in the Iranian stock market over the past few months have led shareholders, experts, and scholars to call for the government to increase its support for the market, some shareholders want the government to guarantee the return of their stocks, some believe providing infrastructure is the best way to help this market.
Some, on the other hand, believe that the government should not interfere in the stock market, saying the government’s pre-ordered and unrealistic pricing of some state-owned shares is the main reason for the capital market’s current downward trend.