Tehran Stock Exchange's TEDPIX experienced significant drop

Business Materials 18 January 2021 09:52 (UTC +04:00)
Tehran Stock Exchange's TEDPIX experienced significant drop

BAKU, Azerbaijan, Jan. 18


The Tehran Stock Exchange's benchmark TEDPIX index lost 43,050 points in early trading today on Saturday, reached 1.186 million points in total.

The FaraBourse Index was lost 461 points and reached 17, 859 points in total, Trend reports citing Fars News Agency.

The indices of National Iranian Copper Industries Co., Isfahan Mobarakeh Steel Co., the Social Security Investment Company (SSIC aka "SHASTA"), Iran Khodro Co., Persian Gulf Petrochemical Industry Commercial co., Chadermelo Petrochemical Co., and Ghadir Investment Company, had the most negative impact in TSE on Sunday.

The total index of the Iran Stock Exchange soared from about 500,000 units at the beginning of the Iranian calendar year, starting March 20, to two million units in mid-August. Many experts have blamed government manipulation for the stock market increases, which have created a bubble.

Since the second half of August, the TSE index has fluctuated and dropped by 500,000 units in the last two months.