Tehran stocks stage recovery

Financial Tribune – Stocks closed mostly higher on Tuesday, Tehran Stock Exchange’s main gauge, TEDPIX, rebounding to snap a two-day losing streak, on the back of newly released earnings reports by companies.

TEDPIX gained 736.28 points or 0.44% on Tuesday to end trading at 167,199.8 , still a far cry from when the market bordered on the record high of 200,000 point in early fall.

The heavy losses of the past days have seemingly emboldened the more risk-taking investors who are finding walloped stocks more appealing. Tuesday’s gains were fairly broad-based and included refinery, petrochemical, metal and mineral stocks.