Tehran stocks rebound from earlier plunge

Financial Tribune – Tehran stocks rebounded from a short-lived correction and pared previous session’s losses at the close of trading week on Wednesday.

Standing at the all-time of high of 459,565 points, the main gauge of Tehran Stock Exchange, TEDPIX, gained close to 12,000 points for the day to post a daily hike of more than 2.6%.

Stocks took a drubbing Monday as investors rushed to sell shares to save gains from weeks of non-stop rallies. TSE’s benchmark had lost 7,466.66 points, or 1.64%, the biggest loss in the past month.