Tehran: Stock Rout Erases Autumn Gains

Tehran stocks closed lower in trading Saturday to start the week in the red.  At the Tehran Stock Exchange both TSE's main index TEDPIX and IFX lost heavily.  The TEDPIX and IFX fell sharply and thereby turned negative for the autumn. Stocks dropped almost across the board with only textile and telecoms staying in the black. 
TSE which had its record high in early autumn has now erased all its gains. The fall from grace began with petrochemical stocks and then spread like wildfire as global commodity prices tank. 
Although the bearish market for commodities including oil is still cited as the main reason for investor pessimism, a level of overreaction by investors is also said to have exacerbated the market performance.