Business And Markets

Stocks Plunge to 4-Month Lows

Stocks Plunge to 4-Month Lows
Stocks Plunge to 4-Month Lows

Tehran stocks dived deeper on Monday extending a losing streak into the fifth session amid relentless sell-off of shares by investors in panic.
Losing 51,989 points, or 3.43%, the benchmark of Tehran Stock Exchange, TEDPIX, plunged to four-month low closing the session at 1,462,283 points, the lowest since June 24.
Blue chips were hit harder as seen in the 4.5% fall in the TSE 30 Index, which tracks the performance of 30 companies with the highest market capitalization at the TSE. 
Observers link the declining trend of the bourse to rumors about a decision by the Central Bank of Iran to raise interest rates. The news was neither confirmed nor denied by CBI officials but has apparently affected investor sentiment, IRNA reported citing a market expert. 


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