Tehran Stocks in Negative Territory

Following rallies for four consecutive sessions last week, the stock market turned bearish on Monday as selloff pressure ramped up in the absence of substantial buying.  
The downward trend, which started in the midday trade on Sunday, gained momentum on Monday, causing the main gauge of Tehran Stock Exchange to drop more than 0.5%. 
According to Donyaye Bourse website, the market has entered a corrective phase that has particularly targeted the commodity stocks. The massive selloff for commodity stocks came against many market analysts’ expectations, as prices of crude oil and metals soared in the global markets.