Predictability in Iran's stock market these days is gone and investors are going down the rabbit hole with it.
They still eye companies' performance, macroeconomic indices and parallel markets' movements, but what sways them in the end is "news". As a result, confusion can only be dissected in retrospect.
However, this is not a new phenomenon. Such erratic market movements were first witnessed in early December 2017, after about three quarters of radio silence. Blame was mostly laid at the door of foreign currency market upheaval and political concerns regarding Iran's nuclear deal.
The trend continued for the next two quarters, as rial kept devaluating against the US dollar, the US administration hardened its stance against Iran and confusion ensued over the government's impromptu policymaking.
July 23, 2018 19:50
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Outlook Hazy at Tehran Stock Market - Monthly Review (June-July 2018)
Tehran Stock Exchange’s main index lost 42.1 points or 0.03% during the month that ended on May 21 to close at 108,830, as Iran Fara Bourse’s benchmark index dropped 20 points or 1.6% to stand at 1,222
Commodities, especially base metals, were Iranian stocks’ primary driver in recent months and their price uncertainty will not help equities get back on their feet
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