Tehran Stocks Stumble

An early hour rally in the Tehran stock market gave way to a sell-off on Tuesday, which swept through 366 ticker symbols or 80% of the market.
TEDPIX, the main gauge of Tehran Stock Exchange, had gained 6,000 points in the early trade before paring it all later. The market cap weighted benchmark closed 8,400 points or 0.63% lower to retreat to 1,314,953.
Sell-side pressure was higher on small caps, dragging down the TSE’s equal-weighted index by more than 1.5%. Mineral stocks were the top gainers and refinery, tire, bank, auto, transportation, cement and ceramic stocks were the big losers.   
About 6.31 billion shares valued at 55.92 trillion rials ($223.7 million) changed hands at TSE on Tuesday.