(MENAFN) On Monday, the Tehran Stock Exchange (TSE) experienced a decline as reflected by the TEDPIX, its main index, dropping by 20,647 points, equivalent to 0.91 percent, to reach 2,239,099. This movement occurred on the third day of the Iranian calendar week. The TSE stands as the principal stock exchange among four in Iran, with the others being the Iran Mercantile Exchange (IME), Iran Energy Exchange (IRENEX), and Iran’s over-the-counter (OTC) market, known as Iran Fara Bourse (IFB).
Late in April, Majid Eshghi, the Head of Iran's Securities and Exchange Organization (SEO), articulated the organization's commitment to supporting shareholders in the stock market. Addressing a gathering that included representatives from financial institutions, analysts, and capital market media, Eshghi acknowledged the high expectations stemming from political, social, and economic discussions surrounding the stock market. He highlighted the complexity of prevailing market conditions, emphasizing the SEO's determination to safeguard shareholder rights amidst such challenges.
Eshghi noted the existence of mistrust among shareholders influenced by various factors, resulting in difficult market conditions. He stressed the importance of empathy in addressing these challenges and fostering conditions conducive to overcoming them. Furthermore, Eshghi acknowledged that private sector companies may exhibit reluctance to offer their shares in the stock market when market conditions are unfavorable, believing that the market does not adequately reflect their company's value.
Nevertheless, Eshghi emphasized that previous experiences indicate that the current market conditions are not sustainable in the long term. This suggests a recognition of the need for concerted efforts to address underlying issues and foster a more stable and conducive environment for the Iranian capital market.
MENAFN06052024000045015839ID1108177689
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.