Baku, Azerbaijan, May 31
By Khalid Kazimov - Trend:
Tehran Stock Exchange (TSE) main index has dropped by 287 points to reach 76,144.
According to the TSE website, 914 million shares worth about $60 million were dealt in 51,811 transactions by the end of the day at the stock exchange.
This is while the main index slightly grew by 44 points to reach 76,431 the preceding day.
The TSE main index over the past two months has been volatile following a positive reaction to the implementation of the Joint Comprehensive Plan of Action (JCPOA) Jan. 16, which resulted in the removal of nuclear-related sanctions imposed on the Islamic Republic's key energy and financial sectors.
The index jumped 25 percent in January when the international sanctions against the Islamic Republic were lifted as a result of the implementation of the JCPOA, aka nuclear deal.
Some observers suggest that difficulties in Iran's banking ties and money transactions are among the main reasons for the recent falls on the market.
Most of international leading banks seem to be reluctant to do business with Iran as they are worried about running afoul of the US regulations.
In a bid to address the concerns over doing business in Iran, the US Secretary of State John Kerry met with heads of some European banks in London on May 12.