Investors Shy Away From Tehran Stocks

Listed companies in the Tehran Stock Exchange closed trading day mostly in red on Tuesday as investors were disheartened by the sharp fall in the forex market.   
The massive selloff pushed the TSE main index TEDPIX 2.78% lower for the day.   
Fluctuations in currency rates were the main driving force behind the performance of companies in the stock market. The impact is deeper on export companies. 
A market analyst told Iran Chamber of Commerce news agency that the decline in forex rates has a psychological effect on investors and cannot be a fundamental determining factor in market performance.