Iran’s TEDPIX loses 5,210 points on Wednesday’s session end
(MENAFN) On Wednesday, the TEDPIX index, which is the principal gauge of the Tehran stock exchange (TSE), experienced a notable decline, dropping by 5,210 points to reach 2,068,322. This decline occurred on the fifth day of the Iranian calendar week, highlighting a challenging day for the market. The TSE, being the foremost of Iran's four stock exchanges, plays a crucial role in the country's financial landscape. The other exchanges include the Iran Mercantile Exchange (IME), the Iran Energy Exchange (IRENEX), and Iran's over-the-counter market, known as Iran Fara bourse (IFB).
In recent updates from Iran’s Securities and Exchange Organization (SEO), it was reported that the capital of companies listed on the stock market saw a significant increase in the previous Iranian calendar year, which ended on March 19. According to Majid Eshqi, the head of the SEO, the capital of these companies surged by 5.0 quadrillion rials, approximately USD10 billion, bringing the total from 15 quadrillion rials (about USD30 billion) two years ago to 20 quadrillion rials (around USD40 billion) by the end of the last fiscal year.
Eshqi made these remarks during the opening ceremony of the Economy Ministry’s Production Financing Facilitation Center in Tehran. He expressed optimism that through the formulation of necessary guidelines and the establishment of institutions outlined in the production financing law, the government would be able to tackle the critical issue of capital formation. This challenge remains one of the significant concerns for the Iranian economy as it seeks to bolster production and financial stability.
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