The Tehran Stock Exchange reentered the bear market from Monday, which had pushed down its main gauge more than 3,000 points in three straight days of trade.
After a shining performance last week, the market entered a corrective phase gaining momentum at the end of the trading week on Wednesday when TEDPIX shed more than 2,000 points.
The corrective phase led to a massive selloff pressure which mainly hit the small stocks.
However, positive signals from the world market kept metals and commodity stocks in positive territory, according to the Donyaye Bourse website.
Stocks in Asia rose on Wednesday following positive developments overnight on the U.S.-China trade front.
Chinese stocks gained on the day as the Shanghai composite rose 0.96% to 2,917.
In Japan, the Nikkei 225 jumped 1.72% on the day to 21,333 as shares of conglomerate Softbank Group soared 4.03%.
European markets were mixed Wednesday afternoon ahead of a much-anticipated US Federal Reserve decision on interest rates.
The pan-European Stoxx 600 recovered from an early fall to trade around the flatline during the afternoon session. Basic resources led the losses with a 1.3% decline while autos and bank stocks both rose more than 1.1%.
Market Performance
The TSE's main index TEDPIX lost 2,268.81 points or 0.96% on Wednesday to end trading at 234,879.4.
About 3.4 billion shares valued at 11.49 trillion rials ($87.8 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
National Investment Company of Iran was the biggest winner as its shares went up 9.07% to 4,366 rials.
Pars Refractories Company incurred the biggest loss among all TSE-listed companies and went down 9.11% to 11,806 rials a share.
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Mobile Telecommunication of Iran, Tamin Petroleum and Petrochemical Investment Company and Mobarakeh Steel Company
National Iranian Copper Industry Company gave the biggest boost to the benchmark index, followed by Kharg Petrochemical Company and National Development Investment Group.
Iran Fara Bourse’s main index IFX lost 55.98 points or 1.85% to close Wednesday at 2,978.12.
About 1.28 billion shares and securities valued at 6.77 trillion rials ($51.7 million) were traded at the over-the-counter exchange for the day.
