Tehran stock rally on hold

Financial Tribune – The Tehran bourse opened Monday amid sell-off pressure in early hours of trading as investors rushed to sell to save gains from previous rallies.

However, the downturn was relatively short-lived, particularly for large-cap stocks, as the market bounced back after outgoing money was replaced with new liquidity.

The market cap-weighted index soared 22,904 points to climb 2.4% on Monday to finish trade at 979,105 points, about 2% shy of the critical and psychological level of 1,000,000 points.