Weekly rollercoasters are becoming a familiar sight in Tehran stock markets. In the week before last, positive market signals were conspicuous as trade volume stayed strong compared to the market's recession early in the week.
Even though parallel markets had no shortage of speculation, developments such as introducing a "secondary" foreign exchange market hosted by the stock market, to some extent checked the rial's downward trajectory and the gold coin's destructive power–all apparently seen as good news for stocks.
The upsides notwithstanding, things turned south Sunday as Tehran Stock Exchange and Iran Fara Bourse's main indices dropped 2.5% and 2.9% in a single day, with steel and petrochemical shares accounting for big declines.
July 06, 2018 19:15
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Tehran Stocks Return to Safety
TSE’s all-share index gained 1,165.2 points or 1.04% during the week that ended July 4 to close at 112,490 as IFB shed 16.63 points or 1.3% to stand at 1,252.84
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