Tehran’s stock market bulls continued to lift up equities in a dramatic Tuesday trade that saw indices break even more records after showing signs of sinking in early trade.
About 20 minutes past the market opening, Tehran Stock Exchange’s primary index TEDPIX started going downhill. Escalating sell pressure on Monday, especially near the market close, could signal a creeping correcting movement for the index.
The money avalanche in the market, however, prevented things from going south and the index picked up again in less than 15 minutes and grew by about 1,100 points by 11:30.
But then came the actual shock: National Iranian Copper Industries Company’s shares returned to trading after a day of being blocked for fluctuating more than 20% and the sizable demand for its shares boosted TEDPIX by 895 points in 10 minutes.