International Science Community Association Research Journal of Management Sciences 2319 - 1171 5 12 2016 12 6 Oil Price and Stock Market Performance Evidence from Tehran Stock Exchange Market 10 13 EN C.N. Ozuomba 1 Department of Accountancy, Gregory University Uturu, Abia State Nigeria T.N. Ofor 2 Department of Accountancy, Anambra State University Igbariam, Nigeria P.V.C. Okoye 3 Department of Accountancy, Nnamdi Azikiwe University Awka, Anambra State Nigeria Swarnalatha V. 1 Bharathiar University, Coimbatore, India Sekar S. 2 Government Arts College, Dharmapuri, India Moradi Mahdi 1 Ferdowsi University of Mashhad, Mashhad, Iran Govahi Majid 2 Mashhad Branch, Islamic Azad University, Mashhad, Iran Mortezaee Mojtaba 3 Mashhad Branch, Islamic Azad University, Mashhad, Iran > Short Communication 2016 11 21 2016 12 6 The level of development in any country is very much dependent upon the rate of investment in the economy. Stock market provides an effective platform for the diversion of financial sources from excess to deficient economic units and their productive investment. There are number of regional and global macroeconomic factors and variables which determine the financial market performance. Present study is aim to investigate the effect of international (OPEC) oil price fluctuation on the performance of stock exchange markets in Iran (Tehran Stock Exchange (TSE) Index). In addition to oil price, other macroeconomic variables includes exchange rate and foreign private portfolio investment were also considered in the model in order to improve strengthen its illustrative power. The study also analyzed the significant of political consistency in the determination of stock market performance. The results shows that the oil prices (OP), exchange rate (ER) and foreign private portfolio investment (FPPI) have a meaningful positive relationship with market performance, while political instability (PI) have a negative effect on Tehran stock exchange performance. Copyright@ International Science Community Association