Tehran Stocks Bleed as Optimism in Bank Shares Fade

Nervous investors on Sunday dumped bank stocks after their early optimism about the prospects of banks faded. Bank shares had become a new favorite of investors after the rial gains curbed the love for the shares of export companies. 
The knee-jerk reaction hit key indices with Tehran Stock Exchange's main index collapsing 5,262 points and the Fara Bourse's main index losing 31.58 points or 1.65%. 
Bank stocks looked to benefit from the banking reform initiative which is seemingly a priority of the Economy Ministry and the Central Bank of Iran to address  domestic economic woes.