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Tehran Stocks Bleed as Optimism in Bank Shares Fade

Stocks Bleed as Banking Optimism Fades
Stocks Bleed as Banking Optimism Fades

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. 

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