27 Nov 2024
Tuesday 10 March 2020 - 15:33
Story Code : 372002

Tehran stocks plunge 2.7%

Financial Tribune - Tracking global markets, share prices in both Tehran Stock Exchange and over-the-counter Iran Fara Bourse took a beating on Monday.

TSEs market cap-weighted index, TEDPIX, shed more than 14,800 points and closed the session 2.7% lower. Equal-weighted index dropped 1.91% to indicate smaller losses in small-cap companies.

Downturn in Tehrans stock market started on Saturday amid increasing uncertainty among investors over the market regulators arbitrary decisions, and gained pace on Monday as an obvious response to trends in global markets.

The sell-off particularly hit petroleum-based stocks in refinery and chemical groups before extending to almost all other stocks throughout the trading session.
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