TEDPIX loses 32,391 on Monday’s session end
Date
5/13/2024 9:54:17 AM
(MENAFN) In the aftermath of a sustained downward trend, the TEDPIX, Tehran Stock Exchange's flagship index, saw a significant drop of 32,391 points on Monday, bringing it to 2,160,780, as reported by an Iranian news agency. TSE holds a paramount position among Iran's four major stock exchanges, which also include the Iran Mercantile Exchange (IME), Iran Energy Exchange (IRENEX), and Iran’s over-the-counter (OTC) market, known as Iran Fara bourse (IFB).
In late April, Majid Eshghi, the Head of Iran's Securities and Exchange Organization (SEO), underscored the organization's commitment to supporting shareholders in the stock market. Addressing a gathering comprising financial institution executives, analysts, and capital market media, Eshghi acknowledged the weight of political, social, and economic discussions, which have engendered heightened expectations within the stock market.
He highlighted the multifaceted challenges currently impacting the market, emphasizing the SEO's resolute stance in safeguarding shareholder rights. Eshghi acknowledged the prevailing climate of mistrust among shareholders, attributing it to a confluence of factors and stressing the need for empathy to navigate these complexities.
Furthermore, Eshghi addressed the reluctance of private sector entities to offer shares amidst unfavorable market conditions, citing perceptions of diminished value. However, he maintained that historical precedent suggests that the current market dynamics are not sustainable in the long run, hinting at the potential for a shift in the future.
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