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Iran's stock index loses 30,000 points, falls below 1 million mark

16 May 2020 - 18:37


Reuters - Iran�s main stock index fell below one million points Saturday, a week after topping that mark, state affiliated media reported.

The Tehran Stock Exchange�s benchmark TEDPIX index lost 30,000 points in early trading on Saturday, falling to 989,000 points.

The stock exchange rose above the 1 million mark for the first time last Saturday amid warnings that the market was overheating.

Analysts said the booming stock market was at odds with Iran�s economic fundamentals, which are deteriorating under the weight of sanctions and the coronavirus outbreak, raising the risk of a stock market bubble. (Reporting by Dubai Newsroom. Editing by Gerry Doyle)


Story Code: 375930

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https://www.theiranproject.com/en/news/375930/iran-s-stock-index-loses-30-000-points-falls-below-1-million-mark

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