TEDPIX extends losing streak

Financial Tribune – Almost all of the symbol tickers of listed companies in Tehran Stock Exchange were in the red on Tuesday as the selloff drags on in the stock market.

TSE’s benchmark lost more than 10,800 points for the day to reach 308, 978.9, sending TEDPIX 3.4% lower, the biggest since May 6, Donyaye Bourse reported.

Instead of being influenced by a particular factor, such as a slump in global markets, volatilities in foreign exchange market and financial records of listed companies, the downturn was driven mainly by investors’ fear of further losses.

The shares of 315 companies recorded negative prices on Tuesday, accounting for 97% of the total, with losses amounting to 400 trillion rials ($3.5 billion).