Before revision:  The result is more robust in the post-sanction period and global financial crisis in 2014. Herein, it is important for financial market analysts and policy makers to note which factors and when influence the financial market, especially in an oil-dependent country such as Iran with uncertainty in the international politics.
After revision:  The result is more robust in the post-sanction period and global financial crisis , the model performs better in predicting industry index. Additionally, oil price-stock market index prediction performs better in the period of international sanctions. Herein, these results are, up to some extent, important for financial market analysts and policy makers to note which factors and when influence the financial market, especially in an oil-dependent country such as Iran with uncertainty in the international politics.