Tehran stocks keep falling

Financial Tribune – Massive selloff, the market’s corrective response to earlier gains, and a bearish global market pulled the main gauge of Tehran Stock Exchange down on Tuesday to record another fall in the third straight session.

The downward trend started mildly on Sunday and gathered pace Monday. The main index of TSE, TEDPIX, which lost 8,000 points on Monday, shed another 7,000 points Tuesday to push the benchmark down to 208,197 points.

According to the Donyaye Bourse website, lack of buying in the early hours of Tuesday led to another sharp fall in most prices. The selloff escalated after investors turned to selling to contain further losses.