Tehran stocks dip 1%

Financial Tribune – The main gauge of Tehran Stock Exchange slipped Sunday amid lack of fundamental drivers that could bolster the market.

Reports say the benchmark fell more than 3,063 points, or 1%, to 302,795.2 for the day as sell-off hit a large number of equities.

Symbol tickers of 240 companies were in the red an hour before trading ended on Sunday, according to the stock market analytical website Donyaye Bourse.

Mahmoud Ehterami, a market analyst, told IRNA that the market needs positive news to enter a recovery phase, pointing to reports of capital boost of listed companies via asset revaluation as a highly likely driver of the market.