Continuous collapse of the stock market in Iran… and a loss of 27 billion dollars within a week

Continuous collapse of the stock market in Iran… and a loss of 27 billion dollars within a week
Continuous collapse of the stock market in Iran… and a loss of 27 billion dollars within a week

With the continuation of the historical decline of the stock market in Iran, the total index of the stock market recorded, today, Saturday, May 13, a decrease of 64 thousand units. Observers said that the Iranian Stock Exchange, in less than a working week, dropped in value by about $27 billion.

On the first working day of the new week and for the fifth day in a row, the Tehran Stock Exchange indices recorded a negative index, and the volume of real money withdrawals from the stock exchange in the last 4 working days reached 16800 billion tomans, equivalent to 27 billion dollars.

According to the reports received, the total stock index fell by about 64,000 units, and more than 80 percent of the trading companies witnessed a decline in their share prices.

The reports added that real people withdrew about 3,800 billion tomans from the stock market in Tehran, and the total stock index closed today, at 2,214,000 units.

The Iranian “Tijarat News” website referred to the developments of this market today. He added, “A study of property statistics of real people in the stock exchange shows that the large withdrawal of real capital from the stock market continues. The index of entry and exit of capital into this market at the end of the day indicates the withdrawal of 3.459 billion tomans from the stock market.”

The report pointed out that the withdrawal of real money today came due to the purchase of shares of these people by companies in the stock market, and there is still “fear about more losses” in transactions.

The Iranian Student News Agency “ISNA” wrote in a report that the companies “blessed for steel in Isfahan, the national copper industries, and the development of mines and metallurgical industries in the Middle East” had the greatest negative impact on the stock exchange, compared to other companies.

Last Monday, May 8, reports from Iran reported a third historic decline in the Tehran Stock Exchange, which continued until Wednesday, by about 124,000 units, or 9.4 percent.

However, the head of the Iranian Stock Exchange Organization, Majid Eshki, considered, last Thursday, that the market fluctuations are “completely normal” and claimed that one of the reasons for the significant decline in the market last Monday was the “range of fluctuations.”

These allegations come while economists assert that the government is interfering in the stock market and preventing transactions and sales by many companies.

It is noteworthy that this is not the first time that the stock market situation in Iran has become critical. In the past years, in the wake of the sharp decline in stock indexes, many shareholders and losers protested against this situation and gathered in front of the stock exchange offices.