Tehran stock market scales new highs

Financial Tribune – Stocks hit all-time closing highs on Sunday encouraged by the previous day’s landmark point when the benchmark index TEDPIX crossed the 195,000 points after more than six months. TEDPIX rose 0.45% helping the market end the second day of the week on a high note.

The Tehran market opened Sunday trading when many investors were expecting a correction as a selloff by shareholders. This mindset caused the market to shed more than 1,200 points in early trading but fundamental factors supporting the market helped reverse the bearish trend later in the day.

According to Donyaye Bourse website, the ongoing stock market rally is different from the one that lifted the markets last year.