Tehran stocks tumble amid selloff rush

Financial Tribune – After a two-day bull market, Tehran stocks took a drubbing on Monday, shedding more than 6,000 points to close trading session 1.9% lower.

The market saw massive selloff and negative prices for 160 symbol tickers (out of a total of 323) in one hour after the opening of the session, later rising to 300 symbols.

The downturn for equal-weighted index was even deeper at 2,855, or 3.08%, hitting a historic level, according to Donyaye Bourse website.

It has been seen in recent times that the bourse is more inclined toward emotional behavior and haste by novice investors in unusually big numbers.