Sharp Decline Puts Tehran Stocks in Correction Territory

Tehran Stock Exchange tumbled into correction territory Sunday as an unimpressive economic picture sparked a retreat by investors and traders hesitant to enter the week with big bets as in the past.
The second straight negative trade for the market came as investors do not hold the prospect of better income results for companies at the end of the calendar month on December 22.  The correction in prices was accompanied by a drop in the volume of trade as liquidity flows out of the market.  
A surging rial and the growing uncertainly resulting from renewed US sanctions has dampened investor sentiment with the outlook for commodity and export companies looking bleak. The majority of industrial companies' share values continued to drop on Sunday while 75% of all stocks were in the red.