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Main index of Iran's Tehran Stock Exchange TEDPIX dips

Business Materials 15 June 2021 15:04 (UTC +04:00)

TEHRAN, Iran, June. 15

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The overall index of the Tehran Stock Exchange (TSE) dropped 44 points to 1.150 million, on Tuesday, June 15.

In the early morning today, the Tehran Stock Exchange (TSE) gained 8,000 points but at the end of the Stick Exchange working day, the TEDPIX returned to its downward trend again, Trend reports citing Mehr News Agency.

The indices of Mobarakeh Steel Co., Golgohar Mining & Industrial Co., Iran Khodro Group Co., and Saipa Group Co., had the most positive impact in TSE on Tuesday.

The indices of Isfahan Cement Co., and National Copper Co., had the most negative impact in TSE today.
Unprecedented fluctuations in the Iranian stock market over last year 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, Iranian media reported.

Following the rising concerns over the market conditions, in early April, the Government Economic Coordination Headquarters, in its 216th meeting, approved some new directives for regulating the stock market.

Also in late April, senior officials including the parliament speaker Mohammad Baqer Qalibaf, the Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati, Finance, and Economic Affairs Minister Farhad Dejpasand, and the Head of Iran's Securities and Exchange Organization (SEO) Mohammad-Ali Dehqan Dehnavi gathered at the country’s parliament to explore ways for supporting the stock market and resolving its current issues.

After the mentioned meetings, SEO unveiled a new directive package dubbed “7+3” which include allocation of one percent of the National Development Fund (NDF) resources to the stock market stabilization fund, lifting the ban on capital market financial institutions to use banking facilities, and granting five-year residency to foreign investors who buy shares in the Iranian capital market.

The above-mentioned directives have been implemented in the capital market as of April 27th, according to Dehqan Dehnavi.

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