Bank Shares Drive Tehran Stock Exchange Gains

Iran's main stock market rose on Wednesday, after investors' enthusiasms for bank and auto stocks along with foreign exchange rate rises helped to lift the market and pare Tuesday's losses. 
Enthusiasm for auto stocks early in the day gave way to demand for bank stocks, which led to half of the market's liquidity move toward lenders by the close of the session. Among them, Bank Mellat and Tejarat Bank have won the most favor from investors.   
As reported by the Donyay-e-Bourse (an analytical website owned by the parent company of Financial Tribune), the extraordinary demand for bank shares, driven by prospects of capital increase in the wake of their asset revaluation, is fueling concerns among analysts that the reckonings are overoptimistic given the structural problems of the banking system.