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Why are Iranian investors shrugging at nuclear deal?

Despite the signing of the nuclear deal between Iran and six world powers, the Tehran Stock Exchange is still far below its levels before negotiations began under President Hassan Rouhani's rule.

TEHRAN, Iran — The main index of the Tehran Stock Exchange (TSE) rose 221.7 points to hit 61,691 Dec. 30 — the last working day of 2015 in Iran. It has hovered around the same level so far this year, which is far lower than its 89,500 points in January 2013, six months before moderate President Hassan Rouhani was elected.

The stock exchange's main index, TEDPIX, seems to have become numb to seemingly positive political developments. The Joint Comprehensive Plan of Action, which finally ended the 12-year-long nuclear crisis, did not set the index up for a significant rally. Neither did the International Atomic Energy Agency’s recent resolving of the long-running matter of the possible military dimensions to Iran’s nuclear energy program.

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