TEDPIX loses 4,200 points on Wednesday’s session end
Date
10/17/2024 1:54:25 AM
(MENAFN) On Wednesday, the TEDPIX, the main index of the Tehran stock exchange (TSE), dropped by 4,207 points, settling at 2,084,153. This decline marks the fifth day of the Iranian calendar week.
The TSE is the most significant of Iran's four stock exchanges, which also include the Iran Mercantile Exchange (IME), the Iran Energy Exchange (IRENEX), and the over-the-counter market known as Iran Fara bourse (IFB).
In mid-September, the head of the Iran Securities and Exchange Organization (SEO), Hojatollah Seyedi, indicated that the organization would take essential steps to ensure the direct and indirect interests of the stock market are incorporated into next year’s budget bill. He emphasized that enhancing the stock market's efficiency is a primary focus for the SEO under the current administration.
Seyedi stated, “In the 14th government, our mission is to protect shareholders' rights, facilitate capital formation, and improve market efficiency.” He highlighted the vast potential of the capital market, expressing confidence that it is poised for significant growth.
With access to substantial capital and capabilities within companies, as well as a strong workforce, investors, and competent managers, he believes there is no reason the capital market cannot develop to reach a gross domestic product of at least USD300 to USD400 billion.
Seyedi underscored the necessity of making significant advancements in this area, expressing his commitment to contributing to the country's development. He described the capital market as a regulatory and supervisory entity, stating that its mission involves protecting shareholders' rights, promoting market efficiency, and facilitating capital formation, all of which are interconnected.
MENAFN17102024000045015839ID1108789547
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.