Iran: Equity Market Sinks as Selloff Continues

After ending the past week l3.5% lower, the Tehran Stock Exchange continued to reel under selling pressure on Saturday. Falling global stocks, US-China trade war, declining oil and commodity prices and the effects of US sanctions all weighed on sentiment.

Financial Tribune- After ending the past week l3.5% lower, the Tehran Stock Exchange continued to reel under selling pressure on Saturday. Falling global stocks, US-China trade war, declining oil and commodity prices and the effects of US sanctions all weighed on sentiment.
TSE's benchmark gauge broke the psychological 175,000 level, falling 4,460.3 points or 2.54% on Saturday to end trading at 171,252.93. The over-the-counter market Iran Fara Bourse’s main index IFX also lost 43.36 points or 2.27% to close Saturday trade at 1,864.59.
According to analytical website Donyaye Bourse, the continued decline in international oil prices eclipsed the optimism over monthly earnings reports of export companies. Oil prices continued to fall Friday, amid weaker global demand and increased output in the United States, to the lowest price this year. The cost of a barrel dropped below $60, a decrease of more than 20% from its peak last month.

Nov 26, 2018