Iran’s TEDPIX loses 1,900 points on Saturday’s closing

3/10/2024 8:42:33 AM

(MENAFN) On the first day of the Iranian calendar week, Saturday, the TEDPIX, Tehran Stock Exchange's (TSE) primary index, experienced a decline of 1,994 points, representing a decrease of 0.09 percent, bringing the index to 2,163,757. The TSE stands as one of Iran's foremost stock exchanges, playing a pivotal role in the country's financial markets.

Alongside the TSE, Iran boasts three other significant stock exchanges, namely the Iran Mercantile Exchange (IME), the Iran Energy Exchange (IRENEX), and the over-the-counter (OTC) market, recognized as the Iran Fara bourse (IFB). Collectively, these exchanges contribute to the dynamism of Iran's financial landscape, offering various avenues for investment and trading activities.

In late January, the deputy governor of the Central Bank of Iran (CBI) emphasized the importance of diversifying financing mechanisms within the country.

He underscored the crucial role played by the stock market in providing such diverse financing tools, acknowledging the evolving role of Iran's financial markets in supporting economic growth and development initiatives. This highlights the recognition within Iranian financial circles of the significance of leveraging different financial instruments to address the diverse needs of the economy, including investment, capital raising, and risk management.

As Iran continues to navigate economic challenges and seeks avenues for sustainable growth, the development and utilization of diverse financing mechanisms are poised to play a central role in fostering resilience and stability within the financial sector.

“To reduce the speculative and profit-seeking activities of dealers in the country, financing tools should be diversified,” Mohammad Shirijian stated.

“The capital market is an institution that directs capital to production in an efficient manner. Now, to accelerate the process of resource transfer and high productivity, the financing should be directed to the enterprises,” the official clarified.

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