TEHRAN, Iran, Apr.19
Trend:
In a public session of the Parliament today (on Sunday), a member of the presidium of the Iranian parliament announced the review of the stock market situation in the meeting of the Economic Coordination Council of the heads of Three Branches of Power (President, Head of Judiciary and the Speaker of the Parliament).
Praising the Parliament Speaker Mohammad Baqr Qalibaf`s efforts, Hossein Ali Haji Daligani, a member of the Presidium of the Iranian Parliament said in a public session of the Parliament that the issue of the stock exchange has been raised in the meeting of the Economic Coordination Council of the heads of the three branches of power, Trend reports citing Fars News Agency.
He added that the speaker of the parliament can play an effective role in the meeting to review the problems.
"Currently, 46 million Iranians are involved in the problems of the stock market, and a ground should be provided to address their concerns,” he said.
By May 2020, TEDPIX, the benchmark index of the Tehran Stock Exchange (TSE), surged past one million points for the first time ever.
Investment veterans and others warned the market was overheating. But the meteoric rise continued. By August, TEDPIX crossed the two-million-point threshold. Then the bubble burst.
The TEDPIX is now hovering around the 1.23-million-point mark – more than 37 percent off its August high. During the ensuing selloff, the index experienced its largest one-day drop ever.
Only 10 million people traded stocks on the TSE for its first 50 years of operations. Since early 2018, more than 11 million people have done so. Throw in all the people who can now actively trade Justice Shares, and that is more than 55 million Iranians – roughly two-thirds of the country’s population – who can trade stocks on the TSE.