Page 46 - IRANRptJun22

Tehran Stock Exchange sees losses
Tehran and world powers are heading.
On January 20, US Secretary of State Antony Blinken said that the talks to revive the nuclear deal, or JCPOA, have reached an "urgent" point following "modest progress" in negotiations.
"There is real urgency and it's really now a matter of weeks, where we determine whether or not we can return to mutual compliance with the agreement," Blinken told reporters.
The Tehran Stock Exchange’s main index, the TEDPIX, lost 7,716 points on November 16, following a loss of 26,174 points on November 15. The falls took it to 1.408mn points, continuing the sour market prevalent in an environment in which the Iranian rial (IRR) continues to lose its footing against the dollar and euro.
The TEDPIX gained 58,000 points (4.1%) to hit 1.456mn points in the previous Persian calendar week (ended on November 12), but the TSE has generally suffered in recent weeks with the market continuing to wobble over nervousness that the negotiations to revive the nuclear deal between Iran and major powers—due to restart on November 29—will not work out as Iran’s new hardline government will drive for too hard a bargain.
Following the Tehran market close on November 16, head of the Iranian Securities and Exchange Organization (SEO) Majid Eshqi said that the government was following new approaches to avoid pre-ordered pricing on the bourse.
“The government's policy, in the long run, is to avoid pre-ordered pricing. This policy has been repeatedly stressed by the president and the government's economic team and has been placed on the government's agenda,” Eshqi was quoted by Mehr News as saying, adding that supply and demand should be the only determining factor in setting share prices.
Iran - Financial market Sep 2021 Apr 2021 Nov 2020 Jan 2020 Jun 2019
Equity market index: Tehran Stock Exchange (TEDPIX)
1,374,891 1,207,850 1,350,899 427,139 248,533
Market capitalisation: % of GDP
176.88 59.2% 59.2% 32.6% 23.9% (2020) (2019) (2019) (2017) (2017)
Market cap: Tehran Stock Exchange 1,374.89 1,150.64 1,366.55 327.20 224.85 (TSE) (USD bn) (Dec 2019)
PE ratio: TSE 9.61 13.33 22.56 8.60 8.41 Source: CEIC
46 IRAN Country Report June 2022 www.intellinews.com