TEHRAN (Iran News) – TEDPIX, the main index of Tehran Stock Exchange (TSE), lost 1,320 points to 1.243 million on Wednesday.
Over 4.49 billion securities worth 39.208 trillion rials (about $933.5 billion) were traded at the TSE on Wednesday.
The first market’s index dropped 2,389 points, and the second market’s index fell 2,248 points.
After several days of drops, TEDPIX had climbed on Tuesday. The index rose 18,457 points to 1.244 million.
The index had risen eight percent in the last week of the past Iranian calendar year (ended on March 20).
It increased 101,000 points to 1.307 million in that week.
Market analysts and experts suggest investors to focus more on long-term investment in the Iranian stock market and to invest through intermediary tools like exchange-traded funds (ETFs) to prevent possible losses in the current Iranian calendar year (began on March 21).
They also advise shareholders to avoid impulsive decisions for quitting the market rattled by the surprising fluctuations in the stock market in the previous year.
In this regard, Vice Chairman of the Board of Directors at Tehran Stock Exchange Javad Eshqi-Nejad said the “exit strategy” is the worse course of action that a shareholder can take.
“For some hasty shareholders, exiting the market is their first choice after any fluctuation, while we have repeatedly stated that this is the worst type of strategy in this market,” Eshqi-Nejad told IRNA.
“Only those shareholders who invest in this market with a long-term vision should expect profit,” he stressed.
According to the official, people who are looking to invest in this market with small capitals and do not have much experience in this regard should invest through intermediary tools such as ETFs.
“Investing directly in the market is only for people who have enough experience in this market and are familiar with the risks,” he emphasized.