Stocks Lose After Early Gains

Shares in Tehran entered a choppy market on Sunday, rising more than 20,000 points in the early hours of trade before paring much of the gains. 
The main index of Tehran Stock Exchange, TEDPIX, closed the session 9,707 points higher, gaining 0.8% to stand at 1,257,356 points. 
As in recent sessions, the value of retail trade surged remarkably on Sunday, reaching 141.94 trillion rials ($545 million), more than 90% higher compared to Saturday. 
Investors panicked as share offers increased in some giant listed companies in the middle of the trading day as they rushed for the exits fearing further decline in prices in the coming days. 
Institutional traders are blamed for upsetting the supply and demand in the market by oversupplying shares. Some observers link the oversupply to trade in the so-called Justice Shares.