Tehran Stocks Tumble

After a moderate decline in the main gauge of the Tehran Stock Exchange on Sunday, TEDPIX pared its earlier gains on Monday to record its most drastic fall in the past seven months.    
The TEDPIX fell over 3.6% on Monday, losing over 8,000 points to close trading session at 215,820 points. The bearish trend comes as many market analysts warn that the market will enter a correction phase after seven consecutive rallies. 
The benchmark fell amid excessive selloff triggered by investors’ sentiments to save their recent profits, leading them to turn to a sale position on Monday. The trend was fortified by the free fall in major stock markets around the world.