Financial Tribune - Tracking global markets, share prices in both Tehran Stock Exchange and over-the-counter Iran Fara Bourse took a beating on Monday.

TSE�s market cap-weighted index, TEDPIX, shed more than 14,800 points and closed the session 2.7% lower. Equal-weighted index dropped 1.91% to indicate smaller losses in small-cap companies.

Downturn in Tehran�s stock market started on Saturday amid increasing uncertainty among investors over the market regulator�s arbitrary decisions, and gained pace on Monday as an obvious response to trends in global markets.

The sell-off particularly hit petroleum-based stocks in refinery and chemical groups before extending to almost all other stocks throughout the trading session.