Tehran stocks closes 1.6% lower

Financial Tribune – Stocks tumbled in Tehran at the close of trading week Wednesday as investors continued to shun shares of major listed companies and turned increasingly to small-cap stocks.

The main gauge of Tehran Stock Exchange, TEDPIX, lost 16,151 points for the day, down 1.61%, to close trading at 985,972 points.

TSE’s benchmark is a market capitalization-oriented index that is highly impacted by the performance of big listed companies.

While TEDPIX was in the red, the equal-weighted index closed in positive territory- at 0.24% — as investors embraced small-cap shares largely in pharmaceuticals, food, transportation and tire companies.