Tehran Stock Exchange (TSE) suffers a substantial loss, apparently after protests in Tehran and other Iranian cities erupted over the hotly-contested election, Press TV reported.
The TSE index (Tepix) lost 27.9 to 9,271 points Tuesday, as a number of investors rushed to sell shares on the Iranian stock market.
As many as 52 million shares held by Sina Bank, Iran's telecommunications company and Iran-Transfo Co. have been floated for sale, while not many actual buyers exist.
The Tehran Stock Exchange sank about 40 percent in value between August 2008 and March 2009, influenced by falling oil prices and declining markets in other parts of the world. It has recovered since then by more than 10 percent.
Only one week ago, Iran offered 6 percent of one of its largest state banks, Bank Saderat, for about $105 million, in its third semi-privatization of a bank in less than four months.
The Tehran Stock Exchange is Iran's largest stock exchange, which first opened in April 1968. The TSE is based in Tehran. As of June 2008, 400 companies, with a market capitalization of $70 billion were listed on the TSE.