Tehran stocks plunge on pandemic fears

Financial Tribune – Tehran stocks took a drubbing Saturday unseen in recent history after the main gauge of Tehran Stock Exchange, TEDPIX, shed more than 18,000 points.

The market cap-weighted TEDPIX lost 3.44% and retreated back to 505,818 points. This is while the equal-weighted index closed 2.13%, indicating smaller losses for small-cap companies. The latter index gives the same weight to all shares irrespective of their market cap.

Stocks took a historic drubbing in volume while in percentage terms the loss was at its highest since January 4.

The sell-off particularly hit giant commodity companies after global commodity prices fell in recent days, according to stock market analytical website Donyaye Bourse.