TEDPIX drops 4,700 points on Monday’s session end

(MENAFN) On Monday, the TEDPIX index of the Tehran Stock Exchange (TSE) experienced a significant decline, falling by 4,700 points to reach 1.998 million. This drop occurred on the third day of the Iranian calendar week. The TSE, the most prominent of Iran's stock exchanges, plays a crucial role in the country's financial system, alongside the Iran Mercantile Exchange (IME), the Iran Energy Exchange (IRENEX), and the over-the-counter (OTC) market known as Iran Fara Bourse (IFB).

The head of Iran’s Securities and Exchange Organization (SEO) reported that the capital of companies listed on the stock market saw a substantial increase of 5.0 quadrillion rials, approximately USD10 billion, during the previous Iranian calendar year, which ended on March 19. This growth marks a significant rise from the capital figures of the previous year.

Majid Eshqi, the head of the SEO, detailed that the capital of listed companies had grown from 15 quadrillion rials, about USD30 billion, two years ago to 20 quadrillion rials, roughly USD40 billion, in the most recent year. This increase in capital reflects an ongoing trend of growth within the Iranian stock market.

Eshqi also highlighted the importance of addressing capital formation as a key economic challenge. He expressed optimism that with the development of necessary guidelines and the establishment of institutions outlined in the production financing law, the government will effectively tackle issues related to capital formation and contribute positively to the economy.

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