Business And Markets

Share Market Extends Losses

Share Market Extends Losses
Share Market Extends Losses

Tehran stocks extended a losing streak into the third session Tuesday amid relentless sell-off. The main index of Tehran Stock Exchange shed 55,834 points, pulling  down TEDPIX by 3.8%. The index closed trade on Tuesday at 1,428,324.49. 

As in the recent past, the downturn was spurred by sell side pressure in major large cap stocks as indicated in the 4.4% decline in the TSE-30 Index that tracks the performance of top 30 listed companies in terms of market capitalization. 

The trend soon extended to shares of smaller listed companies, pushing down the equal-weighted index by 2.4%. Observers blame market makers and institutional traders for the excess supply of shares in three days.


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment