Financial Tribune - Stocks in Tehran took another drubbing on Sunday as the market correction drags on and widespread selloff keeps hitting a wide range of shares.

The benchmark of Tehran Stock Exchange TEDPIX ended 2.6% lower, retreating back into the psychological level of 300,000 points.

TSE�s main gauge shed more than 8,000 points for the day to close trading session at 301,391.08. As reported earlier, the bearish market started from the middle of the current calendar month, following a long spree of bullish trend, and apparently continues to hurt investors.

Main index of the TSE has lost more than 5% over the past two weeks. Losses for equal-weighted index were even deeper, at 12%, indicating a bigger impact of selloff pressure on small stocks, Donyaye Bourse reported.