The Latest from Iran (12 December): A 78-Year-Old Academic is Imprisoned for Writing the Supreme Leader
Paradoxically, the market has benefited from other areas of weakness in the economy. Companies in certain exports sector are benefiting, as a sharp currency devaluation has made their goods much cheaper on the international market, provided they are not hindered by restrictions on Iran's financial transactions.
One example is the chemical sector, with Sina Chemical Industries up 145% since October and Abadan Petrochemical up 18% in that time.
The surge in demand for shares has also been fed by high inflation, the devalued currency, and a lack of alternatives for local investors to place their cash. The international sanctions have cut much of Iran's access to the global financial system, making difficult for wealthy Iranians to send their money overseas.