Iran’s benchmark stock index plummets 13,255 points on Tuesday

2022-01-05 04:03:55

(MENAFN) On Tuesday, TEDPIX, Iran’s benchmark stock index of Tehran Stock Exchange (TSE), dropped 13,255 points to hit 1.362 million.

More than 4.269 billion securities valued at 23.581 trillion rials (about USD79.3 million) were exchanged at the stock exchange. The first index of the market plummeted 3,263 points, and the second index of the market fell 2,051 points.

According to IRNA, the government has implemented various new alterations in the national budget bill for the upcoming Iranian calendar year (begins on March 21, 2022) which based on experts and analysts is going to guarantee the financial market’s stability and expansion within next years.

Lowering taxes on manufacturing entities active in the stock exchange, enhancing the Capital Market Development and Stabilization Fund, reducing funded foreign currency distributions, and making the ownership interest of the mines stable are a few of the procedures taken into account in the budget bill to aid the financial market.

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