Iran’s TEDPIX loses 8,800 points on Sunday’s session end
Date
11/11/2024 4:42:33 AM
(MENAFN) On Sunday, the Tehran stock exchange (TSE) saw a significant decline, with the main index, TEDPIX, dropping by 8,876 points to reach 2,137,971. This marks the second day of the Iranian calendar week, reflecting a challenging period for the market. TSE is the largest and most important of Iran’s four stock exchanges, which also include the Iran Mercantile Exchange (IME), Iran Energy Exchange (IRENEX), and the over-the-counter (OTC) market, known as Iran Fara bourse (IFB).
In mid-September, Hojatollah Seyedi, the head of the Iran Securities and Exchange Organization (SEO), highlighted that the organization would take the necessary steps to address the interests of the stock market in next year’s budget. Seyedi emphasized that the SEO would focus on both direct and indirect impacts on the capital market and stated that improving the market’s efficiency was a key priority for the current administration.
He further explained that the primary goal of the SEO under the 14th government was to protect shareholders' rights, facilitate capital formation, and enhance the market's overall efficiency. According to Seyedi, the capacities of the capital market in Iran are vast, and he believes the market is poised for significant growth, with the country being on the cusp of an economic leap forward.
The SEO’s efforts reflect a larger strategy to support the financial sector’s stability and potential, even amid challenging times for the TSE, such as the recent downturn in the market.
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