Tehran Stock Market Pauses Near Record Levels

Investors’ caution to save earlier gains kept Tehran stocks from making further headway on Sunday after conquering the historic peak of 300,000 points a day earlier. 
The main gauge of Teheran Stock Exchange shed more than 2,000 points, or 0.68%, for the day, bucking a bullish trend that dominated the bourse almost throughout the calendar month that started on August 23. 
As seen in previous trading sessions, auto and bank stocks were still at the top with major commodity stocks suffering sell-off pressure. 
Market analysts believe that the market is governed more by the parameters of emotion than reasoning and technical analysis, thanks to the foray of a large number of novice investors in the absence of strong parallel markets.