TEDPIX climbs above 167,000

Financial Tribune – Iranian stocks rallied as global markets reopened on Monday, prompting the benchmark index on Tehran Stock Exchange to top 167,000 for the first time since the outset of winter. TEDPIX soared 2,900.92 points or 1.76% and finished off at 167,371.3.

Monday’s growth also marked the biggest single-session surge for the main index in 12 days.

Investors have once again directed their attention to fundamental economic factors as opposed to past rallies when herd behavior was the major catalyst for the bull run. Commodity stocks were particularly favored by investors on Monday.