TSE Benchmark Ends Week 0.9% Lower

Financial Tribune - Tehran Stock Exchange’s main index lost 755 points or 0.9% during the week that ended June 7 to close at 79,758.

The smaller over-the-counter Iran Fara Bourse’s benchmark, IFX, also shed 15 points or 1.6% to 901.

TSE and IFB were closed on Sunday and Monday. Trading at Iran’s stock market starts on Saturday and ends on Wednesday.

Most of the losses were incurred on Wednesday after Tehran became the scene of two terrorist attacks. TEDPIX lost 535 points or 0.67% to end Wednesday trade at 79,758.5. IFX shed 16.01 points or 1.76% to end Wednesday trade at 896.05.

Seventeen people were killed and at least 52 others were wounded as Tehran was rocked by twin terrorist attacks on Wednesday, one targeting the parliament in downtown Tehran and the other the mausoleum of Imam Khomeini in the south of the city. The self-styled Islamic State terrorists claimed the assaults during the holy month of Ramadan.

The two Iranian exchanges have been on a rollercoaster ride over the past couple of weeks. The final results of Iran’s presidential election were out on May 20, with the incumbent Hassan Rouhani winning 57% of the vote.

Stocks reacted favorably the same day and reached new highs. TEDPIX shot up 0.91% to reach a six-month high of 81,077.6 and IFX surged 1.28% to an all-time high of 927.31.