Sharp and sudden fluctuations in Tehran Stock Exchange
The main index of the Tehran Stock Exchange saw sharp fluctuations during last three days. On Jan.12, the TSE main index fell 2700 points compared to Saturday. That was unprecedented in the past five years. However, the index rose again on Monday. The main index hit 85,000 points on Sunday, a 2.3 percent fall compared to the day before. But, it rose to 87,112 points and 87,640 points on Jan13-14, respectively. According to the official website of the Tehran Stock Exchange, the TSE main index hit 250,000 points in the year 1390 (March 2011-March 2012), and it surged to 400,000 points last year. The interesting note is that the index has doubled in the current year and has passed 87,000 points, while other economic indices in Iran are in a very bad situation. For example, Iran's economy contracted by 5.8 percent last year, and is expected that it reach zero percent in the most optimistic case for current Iranian calendar year, which will end on March 19. Different factors caus