January 22, 2021
The Tehran Stock Exchange is sluggish, with the TEDPIX index near the low point since the market peaked almost six months ago in early August.
The market index stood at 1,183,978 as of January 20, a loss of 43 percent since its peak of 2,078,512 on August 9. The lowest index price since August was 1,149,000 on January 18. In fact, that was the lowest since June 10.
Many analysts do not expect the stock exchange to see any upward momentum for some time. They say the exchange’s long period of steady rises until August drew many households into the market. But the disaster of the last six months has driven those people away, making it harder for the market to recover.
Many members of the public are furious, because President Rohani encouraged Iranians to invest in the stock early in the summer. They think that makes the government responsible for the losses they have suffered.
The anger prompted Hassan Qalibaf-Asl, the managing director of the Securities and Exchange Organization, a part of the Economy Ministry, to resign from his office January 12