TEHRAN, Iran, Oct. 11
Trend:
The Tehran Stock Exchange’s benchmark TEDPIX index has gained 1,150 points in early trading on October 10.
The index closed at 1,541,851 on Saturday after surging by over 1,150 points, Trend reports citing the Tehran Stock Exchange (TSE) website.
The value of today's trading on the Tehran Stock Exchange reached $1.8 billion.
The TEDPIX increased by 294.35 percent since the beginning of 2020, according to trading on a contract for difference (CFD) that tracks this benchmark index from Iran.
Iranian stocks have plunged more than a quarter since their August peak, threatening losses for retail investors who had flocked to the market.
Tehran Stock Exchange’s benchmark Tedpix index topped 2m points for the first time earlier this year after share sales in state-owned companies helped to encourage a new generation of Iranians to buy stocks.
But the index has since slumped about 28 percent, trading below 1.5m points on Monday, in what analysts say is one of the most dramatic swings on record.