Tehran Stocks Closes 1.6% Lower

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.