Tehran stocks roar back to life

Financial Tribune – Leaving behind a lethargic week, Tehran stocks opened trading session on a strong note Saturday as the market recovered a weeklong correction phase.

The main gauge of Tehran Stock Exchange gained more than 9,000 points, or 2.8%, to 322,000 to partially recuperate the last week’s losses.

Last week, the TSE fell more than 4% during the five trading sessions.

Observers ascribe Saturday’s rally to investors’ willingness to buy shares at lower prices as a large number of stocks depressed to minimum levels due to relentless selloff last week.