Articles
Neutral, dated analysis and explainers across Iran’s markets.
In Sahmino's Signal Scorecard, Settled Bearish Claims Reached Their Level 15.4% of the Time in a Rising, Low-Volatility Market Against 87.7% for Bullish Ones; the Bearish MACD Cross Was Lowest at 10 Hits Out of 189 (Wednesday, 16 September 2026)
Sahmino files the technical setups it detects across the whole Tehran board every night as "claims", each carrying the level that would prove it wrong. As of 16 September 2026 (25 Shahrivar 1405), in market weather we file as rising and low-volatility, 1,481 of 1,688 settled bullish claims reached their level (87.7%) against just 111 of 721 bearish ones (15.4%). The lowest bucket was the bearish MACD cross: 10 hits out of 189 settled claims, or 5.3%.
Iran Market Pulse, Wednesday, September 16, 2026: Retail Investors Bought a Net 10.2 Billion Shares, the Most Since 17 August, and the Tehran Stock Exchange Index Set a Fresh Record at 7,521,959
On Tuesday, 24 Shahrivar 1405 (15 September 2026), retail investors were net buyers of 10,221 million shares on the Tehran Stock Exchange; in our recorded 30 day window only 17 August was larger. The main index rose 128,712 points, or 1.74 percent, to close at 7,521,959, and SENA reports 34 industry indices closed higher against 11 the session before. Outside the board the free market dollar fell 0.39 percent and bitcoin dropped 2.30 percent in 24 hours, on Federal Reserve decision day.
Tehran's count of rising industry indices fell from 36 to 11 in one session and the main index lost 38,179 points; Iran Market Pulse, Tuesday, September 15, 2026
Tehran's main index closed Monday, 23 Shahrivar 1405 (14 September 2026) down 38,179 points, or 0.51 percent, at 7,393,272, ending a seven session run of higher closes. SENA reported that 11 industry indices rose in the same session, against 36 the day before and 40 on Saturday. Outside the exchange the free market dollar gained 1.18 percent and its gap with the Exchange Centre remittance rate opened 2,208 tomans wider in one session, while 18 karat gold fell 0.82 percent.
Mobarakeh Steel closed at its highest since 18 January 2026 after 103 sessions without a trade, on the day Tehran's index closed red (Monday, 14 September 2026)
FOLD (Mobarakeh Steel of Isfahan) recorded its highest closing price since 18 January 2026 on Monday, 14 September 2026. Between those two dates lie 103 trading sessions in which the symbol did not trade at all: partly the roughly 80-day interruption of the whole exchange, partly the suspension of the symbol itself, which ended on 8 August 2026. It happened in a session where Tehran's main index closed red and retail investors were net sellers of this very symbol.
Tehran's Main Index Set a Seventh Consecutive Record at 7,431,450 Points; Iran Market Pulse, Monday, September 14, 2026 notes its last red close was on 13 Shahrivar
In Sunday's session, 22 Shahrivar 1405 / 13 September 2026, the Tehran Stock Exchange main index (TEDPIX) rose 153,863 points, or 2.11 percent, to close at 7,431,450 and set a seventh consecutive record. The last session this index closed lower was 13 Shahrivar, seven trading sessions ago. In the same session the free market dollar fell 2.32 percent and 18 karat gold 1.87 percent, while Brent crude stands 3.02 percent higher at $107.77 this morning.
Sita's AGM voted out 96.58 percent of the profit for the year to 21 May 2026; the share has closed at its 3 percent daily cap in all four sessions since it reopened and ended 13 September in a 28 million share buy queue
Sita's annual general meeting approved a cash dividend of 4,155 rials per share on Sunday 6 September 2026, equal to 96.58 percent of its 4,302 rial earnings per share and 9,141 billion tomans in total. The symbol reopened on 8 September after a three session halt and has closed at the 3 percent daily cap in every session since; on 13 September it finished at 29,880 rials with a buy queue of 28,045,626 shares and no supply on the board.
Iran Market Pulse opens on the Farabourse, Sunday, September 13, 2026: 72 percent of Saturday's Farabourse turnover went to government debt as the Tehran bourse index set a sixth straight record at 7,277,556
Iran Market Pulse for Sunday, September 13, 2026, before the Tehran bourse opens: in Saturday's session, 61.07 trillion tomans of the Farabourse's 85.31 trillion tomans of turnover, or 71.6 percent, was traded in 22 government debt tickers, a sum by itself 1.39 times the entire Tehran Stock Exchange turnover. The main index rose 2.18 percent to a record 7,277,556 the same day, and retail investors flipped to net buyers of 5.14 billion shares after one session of selling.
Tehran's One Month Gold and Coin Rally Was Not the Ounce's Doing: Ounce Zero Percent, 18 Karat Gold 26.7 and the Coin 27.5 Percent (Iran Market Pulse, Saturday 21 Shahrivar 1405 / 12 September 2026)
Iran Market Pulse, Saturday 21 Shahrivar 1405 (12 September 2026), before the bourse opens: over the month to today spot gold went from $4,351.71 to $4,350.36, down 0.03 percent, while 18 karat gold rose 26.74 percent, the Emami coin 27.51 and the free market dollar 26.18. The last session, Wednesday 18 Shahrivar, closed TEDPIX at a record 7,122,270 points, on a day retail investors were net sellers of 2.5 billion shares.
Tehran's main index crosses 7 million points for the first time on a day retail investors turned net buyers; Iran Market Pulse, Wednesday, September 9, 2026
Iran Market Pulse, Wednesday, 18 Shahrivar 1405 (September 9, 2026): the TSE main index rose 167,328 points, or 2.42 percent, to 7,074,945 on Tuesday 17 Shahrivar, crossing 7 million for the first time in the market's history, on a day retail investors turned net buyers after three sessions of net selling. The same day 18-carat gold rose 2.43 percent, the Emami coin 2.17 percent and the dollar 2.07 percent, and the first coin salaf bonds are offered today.
In a week the Tehran Stock Exchange index rose 359,000 points, 51 percent of that ground was covered in a single session; Iran Market Pulse, Tuesday, September 8, 2026
Iran Market Pulse, Tuesday, 17 Shahrivar 1405 (8 September 2026): the Tehran Stock Exchange index gained 359,685 points in the seven days to Monday's close, and 51.2 percent of that ground was covered in Monday's session alone, a 184,042 point gain of 2.74 percent that Boursenews called the index's largest daily rise. The same day the Emami gold coin fell 1.73 percent and the free-market dollar 0.41 percent.
Tehran's TEDPIX Rose 184,041 Points to 6,907,617 on Monday, September 7, 2026; Only 3 of 366 Bourse Symbols Closed Red
The Tehran Stock Exchange's main index (TEDPIX) closed on Monday, September 7, 2026 (16 Shahrivar 1405) at 6,907,617 points, up 184,041 points or 2.74 percent. A Sahmino screen across 366 Tehran bourse equity and rights symbols at that same close shows 362 closed higher and only 3 closed lower, each of the three by less than half a percentage point. Another 103 symbols closed at a gain of 2.99 percent or more, and the largest single gain recorded on the day was 3 percent.
Iran Market Pulse, Monday, 16 Shahrivar 1405 (7 September 2026): over the past month the coin returned 25.4 percent, bitcoin 22.7, the bourse 21.8 and the free dollar 20; TEDPIX set a fresh record on Sunday at 6,723,576
Iran Market Pulse, 16 Shahrivar 1405 (7 September 2026): in Sahmino's own series, the one month return from 17 Mordad to 15 Shahrivar (8 August to 6 September 2026) was 25.4 percent for the Emami coin, 22.7 for bitcoin, 21.8 for TEDPIX and 20.0 for the free dollar, so even a record month left the bourse behind the coin. On Sunday TEDPIX rose 1.85 percent to a record 6,723,576, while the free dollar fell 1.85 percent to 223,000 tomans.
DARA Closed at 552,923 Rials on Sunday, September 6, 2026, a Third Below Its Redemption Value and the Widest Such Gap Among Actively Traded Funds
The Financial Intermediation First Fund, traded as DARA on the Tehran Stock Exchange, closed at 552,923 rials per unit on Sunday, September 6, 2026 (15 Shahrivar 1405), down 1.35%, while TEDPIX rose 1.85% to a record 6,723,576 points. Its redemption value was published the same day at 829,476 rials, leaving the board price 276,553 rials, or 33.3%, below it: the widest discount among the 63 exchange traded funds that turned over more than 100 billion tomans today.
From 1 Shahrivar to today the free dollar rose 27,305 tomans and the last rate below 200,000 was set that day; Iran Market Pulse, Sunday, September 6, 2026, and TEDPIX set a record past 6.6 million units
Iran Market Pulse, Sunday 6 September 2026: the last time the free dollar closed below 200,000 tomans was 1 Shahrivar (23 August), at 199,900 tomans. On Saturday it closed at 227,205 tomans, 27,305 tomans and 13.7 percent higher in thirteen days. That same session TEDPIX rose 1.50 percent to 6,601,286 units, past 6.6 million for the first time, while retail investors were net sellers. Traded 18-karat gold opened 1.01 percent higher this morning.
Shavan Shares Rose 77.6% Over 22 Straight Sessions While Quarterly Profit Fell 90% (Saturday, September 5, 2026)
Shavan (Lavan Oil Refining) on Iran Fara Bourse has risen 77.6 percent over 22 straight higher closes, from August 1 to today, Saturday, September 5, 2026, reaching a one-year high. Yet the company quarterly statement for the period ended June 21, 2026 shows net profit per share down 90 percent from a year earlier. The rally has been driven mainly by retail buying.
Iran's Two Dollar Rates Drift 4 Points Wider This Week as TEDPIX Ends Its 20-Session Rally in the Red; Market Pulse, Saturday, September 5, 2026
Market Pulse, Sep 5, 2026: the gap between Iran's free dollar (221,060 tomans) and official rate (160,022 tomans) widened from 34.5% to about 38.1%, the Emami coin premium hit a weeks-low (189,000 tomans), and TEDPIX fell 1.21% to 6,503,971 points Wednesday, ending a 20-session rally as retail investors pulled out roughly 5,600 billion tomans. A strong US jobs report pushed gold and bitcoin down while Brent headed for its best week since mid-July.
Sports Ministry Fully Exits Esteghlal Football Club's Shareholder Register; Its 3.1% Stake Lands at a Persian Gulf Financial Group as the Stock Hits an Eight-Month High (Wednesday, September 2, 2026)
Iran's Ministry of Sport and Youth completely exited Esteghlal Football Club's shareholder register on September 2, 2026 (11 Shahrivar 1405), according to Tehran Stock Exchange records. The 3.1 percent stake (334,525,650 shares) the Privatization Organization had announced for sale a month earlier landed at Persian Gulf Capital Pioneers Financial Group. The same day, Esteghlal's closing price hit its highest level since January 7, 2026, its fifth straight gaining session.
Tehran's TEDPIX Falls 1.21% Today, Wednesday, Ending a Rally of At Least 19 Straight Gaining Sessions (September 2, 2026)
TEDPIX, which had climbed without a single losing session from August 3 to a record 6,583,932 points yesterday, fell 1.21% (about 80,000 points) today, Wednesday, September 2, 2026, to close at 6,503,970, alongside 5.7 trillion tomans of retail outflows.
Dollar Hits Record 209,300 Tomans, Brent Tops $90 as Iran-US Tension Escalates; Iran Market Pulse, Tuesday, 10 Shahrivar 1405 / September 1, 2026: TEDPIX Sets Fresh Record Anyway
Iran Market Pulse, Tuesday, 10 Shahrivar 1405 (September 1, 2026): Tehran's free market dollar hit a record 209,300 tomans Monday evening and Brent crude topped $90, as the US struck Iran's Larak Island and Iran hit back at bases in Jordan and the UAE. TEDPIX still closed up 0.49% at a record 6,547,932 points Monday, even as retail investors pulled about 2 trillion tomans out of stocks. Global gold held steady and bitcoin stood near $78,700.
Kian Financial Group's Stock Is Up 465% in a Year, Hit a 12-Month Record on Saturday; Its 180% Capital Increase Diluted No One
Kiana, the Tehran-listed ticker for Kian Financial Group, closed at 8,110 rials on Monday, August 31, 2026, up 465% from 1,435 rials a year earlier on September 2, 2025. Two days earlier, on Saturday, August 29, the stock closed at a 12-month record of 8,160 rials, two weeks after shareholders approved a 180% capital increase funded entirely from retained earnings, which does not dilute holders. Only 9% of the stock's shares are free-floating.
Tehran Bourse's Biggest-Ever IPO Opens Today; Iran Market Pulse, Monday, 9 Shahrivar 1405: The Dollar Gained 6,110 Tomans in a Week, TEDPIX Set a New Record
Today, Monday, 9 Shahrivar 1405 (August 31, 2026), Taban Petrochemical's shares, 4.6875 billion of them, go public in the largest IPO in Tehran Stock Exchange history. It comes right after a week in which TEDPIX jumped 2.03 percent Saturday to a record 6,516,184 points and the free-market dollar climbed 6,110 tomans (3.06 percent), from 199,900 tomans on 1 Shahrivar to 206,010 tomans on Saturday.
Iran Market Pulse, Morning, Sunday, August 30, 2026: TEDPIX Jumps 2.03% to a Record 6,516,157 as Global Gold Steadies After Friday's 3% Drop and the Coin Hits a New High
Tehran's TEDPIX jumped 2.03% on Saturday, 29 August 2026, to a fresh record of 6,516,157 points, its best week in ten weeks. Global gold steadied around $4,454 after Thursday night's 3%-plus drop, while Tehran's free-market dollar rose 2.7% to 206,010 tomans, pushing the Emami coin to a fresh record of 218,010,000 tomans. Mordad's year-on-year inflation hit a record 89%.
Tehran's TEDPIX Jumps 2.03% to a Fresh Record of 6.516 Million Points; This Week's Liquidity Flows From Parallel Markets Into the Bourse (Saturday, August 29, 2026)
Tehran's TEDPIX (main stock index) rose 2.03% (up 129,581 points) on Saturday, August 29, 2026, to a record 6,516,000 points, its sixth straight gaining session, up nearly 7.5% since August 22. Trading value hit about 41.8 trillion tomans and 224 stocks gained more than 2%, as the dollar and gold pulled back this week.
Rail Pardaz Novafarin's Stake in Dlip Jumps From 49.5% to 80.9% After a 450% Rights-Stripped Capital Increase (Saturday, August 29, 2026)
Rail Pardaz Novafarin's stake in Tehran Stock Exchange base-market ticker Dlip (Delijan Talaei Shokouh Pars) rose from 49.53% to 80.93% in the exchange's official ownership record dated August 26, 2026, three days after Dlip's 450.5% capital increase, funded entirely from cash with existing shareholders' pre-emptive rights stripped, was formally registered.
Tehran Stock Exchange Closes the Week at a Record 6,386,576 Points the Same Night Global Gold Drops 3 Percent on Fed Remarks: Market Pulse, Morning of Saturday, August 29, 2026
Tehran's benchmark TEDPIX index rose 2.6 percent on Wednesday, August 26 (4 Shahrivar) to a record 6,386,576 points, capping a roughly 5.4 percent weekly gain. But on Friday night, August 28 (6 Shahrivar), hawkish remarks from Fed Chair Kevin Warsh at Jackson Hole sent global gold down 3.08 percent to $4,458.89 and pulled bitcoin back toward $78,400; odds of a September Fed rate hike now sit near 50 percent.
Global Gold at a Three-Month High as the Dollar Sits Near a Multi-Month Low; Market Pulse, Friday Morning, Aug 28, 2026; Tehran's Bourse Closed With Its Record 6,386,000-Point Week
Friday morning, Aug 28, 2026 (6 Shahrivar 1405): Tehran's bourse and commodity exchange are closed, but global gold, which hit a three-month high of $4,696 on Monday, trades at $4,580 today, the dollar sits near a multi-month low and bitcoin holds near $80,000. In Tehran, TEDPIX closed the week at a record 6,386,577 points and the free-market dollar has eased from a weekly peak of 203,000 tomans to a 200,000-202,000 toman range.
As the Global Dollar Nears a Multi Month Low, Gold Holds Near a Three Month High and Bitcoin Nears $80,000; Tehran's 18 Karat Gold Hits a Record 21,746,400 Tomans (Market Pulse, Morning, Friday, 6 Shahrivar 1405)
Tehran's bourse is closed this Friday morning, 6 Shahrivar 1405, but parallel markets are hot: global gold, which traded at $4,590 to $4,600 on Thursday, its highest in more than three months, eased slightly to $4,580 this morning; the US Dollar Index is down 1.69 percent over the past month, near a multi month low, and bitcoin has reached $79,862. In Tehran, 18 karat gold hit 21,746,400 tomans this morning and the free market dollar traded at 200,600 to 201,960 tomans yesterday.
Iran Market Pulse, Midday Thursday, Shahrivar 5, 1405; Bourse Closed but TEDPIX Closes Its Best Week at a Record 6.386 Million Points as the Dollar Stays Boxed In by the Central Bank and Global Gold Trades Quietly
Tehran's stock exchange is closed today, Thursday, Shahrivar 5, 1405 (August 27, 2026), but TEDPIX capped the trading week by jumping 2.61 percent to a record 6,386,577 points in Wednesday's final session, up nearly 5.4 percent on the week. The Central Bank pushed the free market dollar back below the 200,000 toman threshold through banknote sales, while global gold traded quietly with no significant move.
Iran Radiator Hits Second Straight One-Year High on Tehran Stock Exchange After 36% Sapco Rate Hike Worth 103.5 Billion Tomans in Revenue (Wednesday, August 26, 2026)
Iran Radiator Manufacturing Co. (RADI) told Codal that Sapco raised its product prices 36 percent, an effect it estimates at about 103.5 billion tomans (8 percent of last year's revenue) by fiscal year end. The stock gained more than 10 percent over four sessions and today, Wednesday, August 26, 2026, closed at a fresh one-year high for the second straight session, at its daily price ceiling.
Fameli Hits a One-Year Record of 19,950 Rials on a Third Straight Rally; Its Valuation Sits in the 23rd Percentile of Its Own Sector (Wednesday, August 26, 2026)
Shares of Fameli (National Iranian Copper Industries) on the Tehran Stock Exchange rose 2.99 percent to 19,950 rials on Wednesday, August 26, 2026 (Shahrivar 4, 1405), a one-year closing high and a third straight up session. The company's trailing twelve-month net profit is up 261 percent year on year, yet Sahmino's own screen places Fameli in just the 23rd valuation percentile of its 93-member basic-metals peer group, with a P/E about 31 percent above the sector average.
Dozens of Large Stocks Hit Buy Queues as TEDPIX Sets a Fresh Record; Iran Market Pulse, Midday Wednesday, Shahrivar 4, 1405 (August 26, 2026); Bitcoin Retreats From Its $81,250 Record, Iran Oil Exports Sink to 300,000 Barrels
Today, Wednesday, Shahrivar 4, 1405 (August 26, 2026), TEDPIX was up 2.52 percent (156,870 points) as of 10:59am, reaching 6,380,749 points, extending its recent record-breaking run; dozens of large stocks, including Bank Tejarat, Fameli, Shepna and Fars, stayed in buy queues. Meanwhile bitcoin retreated from yesterday's record of $81,250 to around $79,000, and Iran's crude oil exports sank to a 300,000 barrel-per-day floor in Mordad, as seven tankers loaded at once at an Iraqi terminal.
Bank Tejarat Hits 20th Straight Rising Session and a 795-Billion-Toman Buy Queue, Still Trading 27% Below Book Value (Tuesday, August 25, 2026)
Bank Tejarat (وتجارت) closed Monday, August 24 at a 52-week high of 901 rials, its 20th consecutive rising session, then rose another 3% to 928 rials today, Tuesday, August 25, closing locked in a buy queue worth roughly 795 billion tomans. Yet under its audited Codal financial statement, the stock still trades about 27% below book value; it is up 59% over one month and 187% over one year.
Taban Enters IPO Threshold With a Claimed 40% Guaranteed Return; NAV at 960 Trillion Tomans, Net Profit Forecast at 24.8 Trillion Tomans for 2026/27 (Monday, August 24, 2026)
Tehran Stock Exchange hosted an introductory session on Monday, August 24, 2026 for the IPO of "Taban" (Taban Farda Petrochemical Group). Its NAV was put at 960 trillion tomans and the valuation report's estimated share price at 16,073 rials; net profit for 2026/27 is forecast at about 24.8 trillion tomans. The major shareholder claimed a 40% return guarantee for IPO buyers, a claim Mehr News Agency says still needs checking against the official offering notice.
Tehran's Main Index Jumped 1.85 Percent Today to a Record High; Iran Market Pulse, Tuesday Midday, Shahrivar 3, 1405; Bitcoin Topped $81,000 as China's Iran Oil Imports Fell to a Multi-Month Low
Tehran's TEDPIX index jumped 1.85 percent (112,999 points) by 10:59 am Tehran time today, Tuesday, Shahrivar 3, 1405 (August 25, 2026), to 6,212,955 points, an all-time high; the equal-weight index rose 1.36 percent and Farabourse 1.3 percent. Bitcoin topped $81,148 overnight and China's Iran oil imports fell to about 534,000 barrels a day in August, down from two-thirds of July's level; the free-market dollar and gold, however, held steady today.
Third Straight Pharma Buy Queue in Under a Week: IRDR Hits a One Year High on a 19 Session Run With No Price Moving Codal Disclosure Behind It (Monday, August 24, 2026)
IRDR (Iran Daru) closed up 2.94% and locked in a buy queue on Monday, August 24, 2026, taking its closing price to 14,000 rials: a 19th straight higher close and a fresh one year high, 444.2% above its 2,572.58 rial low of September 24, 2025. Unlike DJBR and Razak, which showed the same pattern recently, Sahmino found no price moving material disclosure filed by the company on Codal in the past 90 days.
DJBR Jumps 14.53%, Extends Winning Streak to 10 Sessions and Hits a 52-Week High; 13 Days After Bank Employees' Pension Fund Exited Its Stake (Monday, August 24, 2026)
Tehran Stock Exchange ticker DJBR (Jaber Ebne Hayyan Pharmaceutical) opened 14.53% above yesterday's close on Monday, August 24, 2026, closing at a 10th straight higher session and a 52-week high of 44,340 rials, on volume 17.8 times its 20-session average. The rally began just 13 days after the Bank Employees' Pension Fund sold its entire 16.58% stake, worth about 1,588 billion tomans, to National Investment Company of Iran (NIKI) on August 11, 2026.
Market Pulse, Midday Monday, Shahrivar 2, 1405; The Dollar Crosses 201,000 Tomans and TEDPIX Sets a Fresh Record, Hours After Bessent Announces Washington's Largest Economic Attack on Iran
The free market dollar reached 201,810 tomans on Sahmino's board today, Monday, Shahrivar 2, 1405, and 18 karat gold set a fresh record with a 2.63 percent gain, while TEDPIX also built a third straight record high. The simultaneous jump in both safe haven and risk assets came hours after US Treasury Secretary Scott Bessent announced the start of Washington's largest economic attack on Iran; oil is trading down about 2 percent.
Tehran Stock Exchange Notches Second Straight Record, But Sunday's Gain Shrinks to Just 0.14 Percent
TEDPIX climbed as high as 6,154,000 points in mid session trading on Sunday, August 23, 2026, notching a second straight record close, but a wave of second half selling pared the day's gain to just 0.14 percent, at 6,069,888 points. Buy queues held on only 245 symbols, and per Donya-e-Eqtesad, both real money and fixed income funds ended the day with cash flowing out.
18-Karat Gold Hits a Third Straight Record, Tops 21 Million Tomans; Iran Market Pulse, Midday Sunday, Sept 1 Shahrivar 1405, TEDPIX Nears 6.1 Million Points
Eighteen-karat gold in Tehran hit 21,469,200 tomans today, Sunday, Sept 1 Shahrivar 1405 (August 23, 2026), a third straight record, up about 4.7 percent from Saturday. TEDPIX reached 6,099,092 points in trading today, Tether's toman price jumped nearly 1.3 percent, and markets await tomorrow's US sanctions package.
Vabmellat, Mobarakeh Steel, Shepna and Ikco: Sahmino's 4-Stock Weekly Watchlist, From Vabmellat's P/E of 2.99 to Ikco's Losses (Saturday, August 22, 2026)
In the first edition of its Weekly Watchlist series, Sahmino examined four Tehran Stock Exchange names for the week ahead: Vabmellat, Mobarakeh Steel, Shepna and Ikco. All four closed higher on Saturday, August 22, 2026, and three closed locked in buy queues, but their P/E ratios and profit trends differ sharply, from Vabmellat's P/E of 2.99 (roughly half the banking sector average) to Iran Khodro's net loss for the twelve months to March 20, 2026.
6,066,678 Points: Tehran's TEDPIX Breaks Through 6 Million for the First Time, Iran Market Pulse, Midday Saturday, Mordad 31, 1405 (August 22, 2026); US and UAE Both Ratchet Up Pressure on Iran
Midday Saturday, Mordad 31, 1405 (August 22, 2026): Tehran's TEDPIX jumped 1.91% to 6,066,678 points, breaking through 6 million for the first time; Farabourse rose 1.77%. In parallel, the US Treasury Secretary vowed the "toughest sanctions in history" on Iran, the UAE suspended all trade and financial ties with Iran "until further notice," and Brent neared $94.
Sahmino's Screen Finds 4 High-Momentum Tehran Stock Exchange Sectors for the Week Ahead; Data Through Friday, August 21, 2026
Screening Sahmino's own trading, money-flow and fundamentals data through Friday, August 21, 2026 (30 Mordad 1405), four Tehran Stock Exchange sectors, oil refining, basic metals, banks and automotive, show the most momentum for the coming trading week. Brent stood at $93.70 at 18:17 today; Tehran's free-market dollar closed Thursday evening at 1,894,050 rials. No individual stock is named; only the sectors themselves are examined.
Bitcoin Jumped Nearly 10 Percent Overnight to Cross $76,000, Global Gold Neared $4,560; Iran Market Pulse, Midday Friday, August 21, 2026
Bitcoin climbed nearly 10% in a day to reach $76,505 by 10:52 a.m. Tehran time today, Friday, 30 Mordad 1405; global gold hit $4,567.72. Wall Street fell overnight (Nasdaq down 1%). The Tehran Stock Exchange and Farabourse are closed today and tomorrow; in Tehran, 18-karat gold neared 20 million tomans and the Emami coin neared 200 million tomans.
Trump Vows the "Most Crushing" Sanctions Yet on Iran; Iran Market Pulse, Midday Thursday, Aug 20, 2026: Global Gold Breaks Above $4,500 as Dollar, Gold and Coin Rise Together
Trump said early Thursday, August 20, 2026, that he will soon unveil the "most crushing economic action" in history against Iran, as Strait of Hormuz diplomacy stalled again and confirmed tanker transits fell 17 percent. Global gold broke above $4,500 for the first time in two months, trading near $4,485 by 11am Tehran time; Tehran's free-market dollar rose 0.63%, 18-karat gold 1.06% and the Emami coin 0.77%, while the coin premium fell roughly 40%. Tehran's bourse is closed today.
The Money Behind Iran's Brokerages: Mofid Tops the Registered-Capital Ranking of the 10 Largest Tehran Brokerages With 1,000 Billion Tomans (Wednesday, August 19, 2026)
The registered capital of Iran's 10 largest Tehran Stock Exchange brokerages totals 5,735.1 billion tomans. Mofid leads with 1,000 billion tomans, followed by Pasargad Bank Brokerage (950) and Bank Mellat Brokerage (721.1). The gap from first to tenth place is 630 billion tomans, a 2.7x ratio, but registered capital alone does not measure a brokerage's real strength (August 19, 2026, 28 Mordad 1405).
Howard Marks' Lesson for Wartime Markets: Brent Above $91 and the UAE's Break With Iran, Explained for Tehran's Bourse (Wednesday, August 19, 2026)
On Wednesday, August 19, 2026, with Brent above $91 and world gold at a fresh record of $4,355, the UAE suspended all trade and financial ties with Iran. Howard Marks' advice for days like this is clear: you cannot predict a war, but you can prepare for what it does to Tehran's bourse. This Sahmino report maps the channels and three scenarios ahead.
Brent Crosses $90 as Strait of Hormuz Tensions Rise: Iran Market Pulse, Midday Tuesday, Aug 18, 2026; TEDPIX Hits 5.914 Million
Brent crude jumped more than 2.5% on Monday evening, August 17, to cross $90 a barrel, and sits near $91 today, Tuesday, August 18, 2026. The UK Maritime Trade Operations agency reported a fresh maritime incident in the Strait of Hormuz this morning, and Reuters reported Iran has shifted to an "offensive" posture. Meanwhile Tehran's TEDPIX rose 0.28% to 5,914,672 by 11am, while the dollar and domestic gold stayed calm.
Ako Battery to List on Tehran Stock Exchange Wednesday, August 19, in a 29,206 to 32,934 Rial Price Range; Underwriter Values the Company at About 37,000 Billion Tomans
Ako Battery Iranian, the 11th new company to join the Tehran Stock Exchange in the Iranian year 1405, goes public Wednesday, August 19, 2026 (28 Mordad 1405), offering 4 percent of its shares (400.8 million shares) in a price range of 29,206 to 32,934 rials. Each trading code's allotment is 1,500 shares, and the offering's underwriter, Tamdon Capital, has valued the whole company at about 37,000 billion tomans.
Iran Market Pulse, Midday Monday, August 17, 2026: TEDPIX Jumps 2.3% Past 5.898 Million as Gold and Coin Retreat
Tehran Stock Exchange's TEDPIX index jumped 2.3 percent (132,479 points) from yesterday's close by 11 a.m. today, Monday, August 17, 2026, reaching a fresh record of 5,898,860 points, while the equal weighted index rose 2.28 percent. In the same hours, gold and coin prices in Tehran eased and the Emami coin's premium kept deflating, while the free market dollar held near 186,680 tomans with no significant change.
Noosh Mazandaran and Silva, One Day, Two Different Paths Into Iran's Capital Market: A 16.34 Percent Block Sale on the Tehran Stock Exchange and a Three-Day Silver Fund Subscription (Sunday, August 16, 2026)
On Sunday, August 16, 2026 (25 Mordad 1405), the Tehran Stock Exchange is offering a 16.34 percent non-controlling management block of Noosh Mazandaran (symbol Ghanoosh, "غنوش"), a stock trading at a P/E of 33 against a 6.48 sector average. At the same time, the Iran Mercantile Exchange opens a three-day subscription for Silva, Iran's 12th silver-backed fund, worth 200 million units. Noosh Mazandaran's sale is not an IPO; only Silva's is, and that distinction is the point of this report.
Emami Coin's Premium, Days After Spiking, Shrank 16.6 Percent Overnight; Iran Market Pulse, Midday Sunday, August 16, 2026
The Emami gold coin's premium, which had jumped more than 50 percent less than two weeks earlier, fell 16.61 percent (about 602,000 tomans) from the prior day on the evening of Saturday, August 15, 2026, to 3,625,000 tomans; Tehran's gold and coin market was broadly lower Sunday, August 16. Meanwhile TEDPIX was essentially flat at midday Sunday near 5,731,000 points, while the equal weighted index rose nearly 1.1 percent and Farabourse nearly 1.3 percent, leading today's advance.
No Crude Tanker Crossed the Strait of Hormuz for the First Time, Brent Hits $88; Iran Market Pulse, Midday Saturday, August 15, 2026
Saturday, August 15, 2026 (24 Mordad 1405): Reuters, citing Kpler shipping data, reported that no crude tanker crossed the Strait of Hormuz on Friday. A third ADNOC vessel was attacked in under two days, and Trump said he would declare Hormuz US "territory." Brent hit $88.52 a barrel at 4:53 am today. Tehran's TEDPIX, after three closed sessions, is nearly flat near 5,736,032 points as of 10:59 am, while gold and coin prices, down this morning, turned higher by midday.
BBC Persian Calls Tehran's Bourse Iran's Best-Performing Market; TEDPIX's 52% Gain Against 87.9% Point-to-Point Inflation (Aug 14, 2026)
A recent BBC Persian report cited roughly 52% growth in Tehran's TEDPIX index since the war began and called the bourse Iran's "best-performing market" against inflation, the dollar and gold. But TEDPIX closed Tuesday, August 11, 2026 at 5,736,485 points while Iran's Statistical Center's latest annual inflation reading (Tir 1405) is 66%, with point-to-point inflation at 87.9%, a gap that undercuts the "best-performing market" conclusion on methodological grounds.
Market Pulse, Midday Friday, August 14, 2026: Brent Hits the $88 Range After an Attack on Two ADNOC Ships in the Strait of Hormuz, Near a 4% Weekly Gain
Friday, August 14, 2026: The UAE said Iran targeted two ADNOC ships transiting the Strait of Hormuz on Thursday evening and called it piracy. Brent crude jumped into the $88 range and, per global market reports, is on course for a nearly 4% weekly gain. Global gold slipped, but Tehran's gold and coin market got more expensive, according to the Tehran Gold and Jewelry Union. Tehran's bourse and free currency market stayed quiet for the weekend.
Vabmellat's P/E Is 2.84, Versus a 4.95 Banking Sector Average; Here Is How Your Deposit Becomes Bank Mellat's Profit (Friday, August 14, 2026)
Vabmellat's price to earnings (P/E) ratio stood at 2.84 on Friday, August 14, 2026, nearly 43 percent below the 4.95 average for Tehran's banking and credit institution sector; Bank Mellat's net profit alone, in the first half of fiscal 1404, equaled nearly 18 percent of its market capitalization today. This report traces how customer deposits become bank profit, using the same official figures.
OPEC and IEA Cut 2026 Oil Demand Forecasts as Brent Slips to the $88 Channel; Iran Market Pulse, Thursday Midday, 22 Mordad 1405
Thursday midday, 22 Mordad 1405 (Aug 13, 2026): OPEC and the IEA cut their 2026 oil demand forecasts over the continued closure of the Strait of Hormuz, and Brent fell about half a percent to $88.51. Hormuz traffic fell to just 8 vessels Tuesday. Tehran's bourse and Farabourse are closed today, and the dollar and gold saw only limited moves in the parallel markets.
65 Percent Controlling Stake in Bemovalled Goes on Sale Saturday, August 15; Base Price Is 2.5 Times the Board
Iran Fara Bourse will sell a 65.05 percent controlling stake in Movalled Niroogahi Tejarat Fars (symbol Bemovalled) on Saturday, August 15, 2026. Under Farabourse's official notice from August 2, the base price equals the stock's closing price plus 150 percent, meaning the buyer must pay at least 2.5 times the board. Bemovalled, which is in a buy queue and at a one year high on Wednesday, August 12, has become the talk of Iran's capital market this week.
Dollar Snaps Five Day Slide, Tops 187,000 Tomans as Emami Coin Premium Jumps More Than 50 Percent Overnight; Market Pulse, Midday Wednesday, Mordad 21, 1405
Midday Wednesday, Mordad 21, 1405 (August 12, 2026): Tehran's free market dollar jumped 1.19 percent to 187,800 tomans, snapping its five day slide, while the Emami gold coin's premium jumped 51.67 percent overnight to about 4,227,000 tomans. Tehran's TEDPIX closed at a record in the 5.7 million point channel yesterday and was still holding that range this morning. Global gold traded near $4,400 and Brent crude near $90.
A 500 Million Toman Portfolio With a Six-Month Horizon: Tehran's Index Hit 5.736 Million Points on August 11, Screening Beats Guessing at a Correction
A Sahmino reader asked what to buy for a roughly 500 million toman, six-month stock portfolio next week, or whether to wait for a correction in Mehr (late September). Sahmino does not give buy or sell advice. Tehran's TEDPIX hit 5,736,512 points on Tuesday, August 11, 2026 (20 Mordad 1405), up about 11.3 percent over seven sessions. This report explains a screening framework instead: P/E versus sector, free float, liquidity and diversification.
Ehya Locks Limit Up for a Second Session; New Fara Bourse Listing Trades 36 Percent Above Its IPO Price (Tuesday, 20 Mordad 1405)
Ehya (FLBZ), the newest Fara Bourse listing, rose 2.98 percent to its price ceiling of 3,520 rials on Tuesday, 20 Mordad 1405 (August 11, 2026) and stayed locked in a buy queue, meaning the stock is now about 36 percent above its 2,582 rial IPO discovery price after just two sessions. Only 4 percent of the sponge iron producer's shares are freely traded, and institutions were today's net sellers.
Iran Market Pulse: Tuesday Midday, 20 Mordad 1405 / August 11, 2026; TEDPIX Sets a Second Straight Record, Tops 5.742 Million
By about 11:00am Tehran on Tuesday, 20 Mordad 1405 (August 11, 2026), Tehran's TEDPIX index rose 1.57% (up 88,618 points) to top 5.742 million, a second straight record session. Brent crude extended its recent rally past $89 as fresh Houthi missile strikes on Yemen and a drone attack on Libya's Zawiya refinery revived the Strait of Hormuz risk premium.
Kama (Bama Mining) Hits Buy Queue on Tuesday, Mordad 20; Order Book Shows Only Buyers on All Five Levels as Volume Passes Its Monthly Average
Midday Tuesday, Mordad 20, 1405 (August 11, 2026), Tehran-listed Kama (Bama Mining and Industrial Co.) rose 2.83 percent to 4,000 rials and hit its buy queue. The order book shows buyers only on all five price levels, with no sell orders at all; trading volume passed a full month's daily average within the session's first minutes. Retail traders were net buyers today while institutions were net sellers.
Iran Market Pulse: Monday Midday, August 10, 2026; TEDPIX Sets Fresh Record, Tops 5.62 Million Points
By midday Monday, 19 Mordad 1405 (August 10, 2026), Tehran's TEDPIX index broke through 5,622,272 points for a fresh all time high (up 1.12 percent as of 11am), while the free market dollar held flat at 185,600 tomans for a second straight day and Brent crude notched a third day of gains toward $84 on continued Strait of Hormuz uncertainty.
Tehran Bourse Retail Turnover Hit a Record 65 Trillion Tomans on Sunday; the Same Day Saw a 6.9 Trillion Toman Retail Outflow
Retail trading value on the Tehran Stock Exchange topped 65 trillion tomans on Sunday, 18 Mordad 1405 (August 9, 2026), an all-time record. The same day, about 6.9 trillion tomans of retail money left the market net, reversing a five-session run of retail buying. TEDPIX still closed up 0.72 percent at 5,559,964 points.
Ehya IPO Goes Ahead Monday, 19 Mordad on Iran Fara Bourse; 2,582 Rial Valuation for a Sponge Iron Producer With Over 17 Trillion Toman in Assets
A 4 percent stake in Ehya, a sponge iron producer in Baft, Kerman province, lists via a combined method IPO on Iran Fara Bourse on Monday, 10 August 2026 (19 Mordad 1405). The discovered price of 2,582 rials per share puts the company's total value at about 16.6 trillion toman, below the more than 17 trillion toman in assets it reported for the unaudited first half of fiscal 1405.
Tehran's TEDPIX Hit 5.56 Million on August 9 After Five Sessions of Retail Buying Against Institutional Selling, While Iran's PMI Stayed Below 50
Tehran's TEDPIX hit 5,560,234 points on Sunday, August 9, 2026, up almost 8 percent from August 2. Sahmino's own trading data shows institutions were net sellers every single one of those five sessions while retail investors were net buyers. At the same time, Iran's economy wide PMI came in at 47.3 for the month ending mid July, the 16th straight month below the 50 point growth line (Iran Chamber of Commerce).
Iran Market Pulse: Sunday Midday, August 9, 2026; TEDPIX Extends Its Rally Past 5.567 Million Points
By 11:00 a.m. Tehran time on Sunday, August 9, 2026 (18 Mordad 1405), Tehran's TEDPIX index rose 0.85% (47,068 points) to 5,567,409, building on yesterday's record close above 5.52 million; today's trading value already topped all of yesterday's full session. The free-market dollar, which had eased to 185,900 tomans Saturday evening, bounced back to 186,400 tomans this morning, 18-karat gold was little changed, and bitcoin hovered near $64,857.
Iran Market Pulse: Saturday Midday, August 8, 2026; Tehran Bourse Opens the Week With a 2.3% Jump, Tops 5.5 Million Points
By midday Saturday, 17 Mordad 1405 (August 8, 2026), Tehran's main TEDPIX index jumped 2.34% (126,478 points) in the week's first session, clearing 5.5 million points to stand at 5,534,379; an extension of a week that closed with roughly 7% gains and over 13 trillion tomans of retail inflows. Meanwhile the dollar and gold stayed quiet, and the US Treasury sanctioned two Iran-linked crypto exchanges.
Iran Market Pulse: Friday Midday, August 7, 2026; Gold and Silver Jump Ahead of the US Jobs Report as Gold Hits $4,289
At midday Friday, 16 Mordad 1405 (August 7, 2026), with the Tehran Stock Exchange closed for the week, global spot gold rose about 1.1% to $4,289 an ounce and silver jumped more than 3% to near $63.70, both ahead of the US July jobs report due at 16:00 Tehran time, which could sharpen the outlook for Fed rate policy. Brent crude traded near $83.40 as Strait of Hormuz tensions persisted.
Iran Market Pulse: Thursday Midday, August 6, 2026; Global Gold Hits Seven-Week High, Tops $4,250
On Thursday, 15 Mordad 1405 (August 6, 2026), with the Tehran Stock Exchange closed for the week, global spot gold rose nearly 6% since the start of the week to $4,262.17 an ounce, a seven-week high. Reports that Iran and the US are nearing a Strait of Hormuz shipping-corridor deal pushed Brent crude down about 10% this week, drove the free market dollar below 188,000 tomans, and lifted TEDPIX to a record above 5.4 million points on Wednesday.
Samga Earned 1,002 Rials Per Share and Paid Out 300; A 10.2 Percent Cash Yield Against a 34 Percent Earnings Yield (Wednesday, 5 August 2026)
Samga's AGM on 22 July 2026 approved a 300-rial cash dividend per share, while earnings per share stand at 1,002 rials. At 2,947 rials on 5 August 2026 that is a 10.2 percent cash yield against a 34 percent earnings yield, a payout ratio near 30 percent. A dividend is not extra money: it leaves the company's own assets, and under staged payment schedules (Bank Mellat 77 days, Bank Eqtesad Novin 63 days) Iran's 87.9 percent inflation erodes it before it arrives.
Iran's Securities Regulator Enacts a Single Directive on Capital Increases From Asset Revaluation; the Article 141 Threshold Remains 50 Percent of Registered Capital (Wednesday, 5 August 2026)
Article 141 of Iran's Commercial Code states that if losses wipe out at least half of a company's capital, the board must immediately convene an extraordinary general meeting to decide on dissolution or continuation. Iran's Securities and Exchange Organization approved a single directive on capital increases from asset revaluation on 22 June 2026, announced on 1 August 2026: the very route companies use to exit Article 141, without a rial of new money entering the business.
Operating Cash Flow to Net Profit: Why Only 23 of Every 100 Units of Shatran's FY1404 Profit Turned Into Cash (Wednesday, 5 August 2026)
A company can report a spectacular profit jump and have converted almost none of it into cash. The test is the ratio of operating cash flow to net profit. In the Tehran Oil Refining (Shatran) case Sahmino published on 14 July 2026, FY1404 gross profit rose 335% to 818 trillion tomans, yet operating cash flow came in at 187 trillion tomans against net profit of 799 trillion: a cash conversion ratio of 23%. This report turns that one case study into a repeatable tool for any ticker.
Iran Market Pulse: Wednesday Midday, August 5, 2026; TEDPIX Up 2.44% and Past 5.4 Million Points
In its first session after the Arbaeen holiday, the Tehran Stock Exchange main index rose 128,784 points, or 2.44%, past the 5.4 million mark to 5,406,137 by 11:05 on Wednesday 14 Mordad 1405 (5 August 2026). Almost the entire gain was booked in the first five minutes of trading. The free-market dollar retreated from Monday's level, 18-karat gold gained 0.99%, and Brent, below $79 in the morning, was back at $80.20 by midday.
The Multi-Industry Group's P/E Sits at 7.61, While Three of Its Largest Members Trade Between 5.08 and 12.42 (Wednesday, 5 August 2026)
At 09:42 on Wednesday 5 August 2026 (14 Mordad 1405), the price to earnings ratio of the Tehran exchange's multi-industry group stood at 7.61, yet three of its largest members traded at 5.08, 7.81 and 12.42; the priciest member was 2.45 times the cheapest. The sentence "it is cheaper than its group" rests on three unwritten assumptions: that members share a business model, that the average is built from like figures, and that fiscal years line up. This report opens all three.
Iran Market Pulse: Wednesday Morning, August 5, 2026; Brent Slides to $78.70 in a Third Straight Losing Session
Brent crude stood at $78.70 a barrel at 08:05 Tehran time on Wednesday, 14 Mordad 1405 (5 August 2026), down 0.83 percent from the previous close in a third consecutive losing session, taking its weekly decline past 10 percent and holding the benchmark below $80 for the first time since 22 Tir (13 July 2026). The driver is a near interim deal to reopen the Strait of Hormuz. The Tehran bourse reopens today after the Arbaeen holiday, facing a board that last closed at very different oil prices.
Trailing P/E Under 87.9 Percent Inflation: Isfahan Oil Refining's 6.0 Is Closer to 11.3 in Today's Money (Tuesday, 4 August 2026)
The P/E ratio divides today's price by profit earned over the past twelve months in yesterday's rial. With year-on-year inflation at 87.9 percent in Tir 1405 (July 2026), numerator and denominator are two different currencies. Restated into today's purchasing power, Isfahan Oil Refining's P/E moves from 6.0 to about 11.3, National Iranian Copper's from 11.2 to about 21.0 and Bank Mellat's from 2.6 to about 5.0. Board figures: close of Monday, 3 August 2026.
The Hormuz Deal Is at the Door; the Market Paid 4.4 Percent Just for the News That Talks Had Started, and Signing Is a Far Bigger Event (Tuesday, 4 August 2026)
On 4 August 2026 Trump reposted an item saying the agreement is on the verge of being finalized, the US Treasury Secretary said a deal could come today or tomorrow, and Al-Hadath reported a joint Iran and Oman statement within hours. Tehran's bourse rose 4.4 percent in two sessions on news that talks had merely begun, and the Emami coin premium deflated 29 percent in a day. This report sets out the three channels through which a signed deal reaches equities, currency and gold.
Three Block Offerings in One Week: 6.97, 16.34 and 65.05 Percent, and a Parcel Priced 150 Percent Above the Board (Tuesday, 4 August 2026)
Between 2 and 4 August 2026, three block offering notices were published: 6.97 percent of Pars Paper Industries Group (non-managerial), 16.34 percent of Noosh Mazandaran (managerial, non-controlling) and 65.05 percent of Fars Trade Power Generation (controlling). None of them appears on the retail board. Under the notice's own formula, the base price of the controlling parcel is the board's closing value plus 150 percent of it, or roughly 2.5 times board value.
62 Market-Making Fund Assemblies in 22 Days: What an Iranian Market Maker Guarantees, and What It Never Did (Tuesday, 4 August 2026)
Between 13 July and 3 August 2026 (22 Tir to 12 Mordad 1405), 62 assemblies of dedicated market-making funds were logged in Sahmino's calendar from Codal filings, an institution named every week and explained almost never. A market maker commits to posting orders on both sides of the board, but that commitment has a ceiling. In the session of Monday, 3 August 2026, Bank Mellat sat all day at 1,199 rials, the top of its permitted band, with all five rows of the sell side of the order book empty.
Iran Market Pulse: Tuesday Midday, August 4, 2026; With Markets Shut for Arbaeen, Silver Reached the $59 Area and Outran Gold
Iran's markets are closed today, Tuesday 13 Mordad 1405 (4 August 2026), for Arbaeen, but the global board had a clear winner by midday and it was not gold: silver traded between $58.88 and $59.04 an ounce with a session high of $59.13, while gold rose just 0.21% to 0.33% to sit at $4,062 to $4,065. Saudi Aramco reported its war-quarter profit the same day: $33.4 billion adjusted net income per CNBC, $32.7 billion net income per Anadolu.
One Day, Three Indices, Three Numbers: Tehran's Bourse Rose 2.27, 2.39 and 2.50 Percent at the Same Time on Monday, 3 August 2026
On Monday, 12 Mordad 1405 (3 August 2026), the Tehran Stock Exchange booked three different gains, and all three are correct: the free-float index rose 2.27 percent, TEDPIX 2.39 percent and the equal-weight index 2.50 percent. The gap comes from a variable the daily board rarely shows: the free-float percentage. Among index heavyweights it runs from 11 to 42 percent, and that spread sets a stock's index weight, the money needed to move its price, and how fast a queue forms.
Iran Market Pulse: Tuesday Morning, August 4, 2026; Markets Closed for Arbaeen as Brent Returns to the $84 Range
Today, Tuesday 13 Mordad 1405 (4 August 2026), Iran's markets are closed for Arbaeen, but global markets kept working: Brent stood at $84.82 at 8:07 a.m. Tehran time, 1.26 percent above Monday's close, clawing back about a fifth of Monday's slide of more than 5 percent, after Tehran denied direct talks with Washington and a cargo vessel was hit off Oman. The bourse went into the holiday green: 39 of 40 industry indices rose and 12 hit all-time highs.
Bank Mellat Traded All Session at a Single Price of 1,199 Rials as 1.14 Billion Shares Sat Unfilled in the Buy Queue (Monday, 3 August 2026)
Bank Mellat locked at the top of its permitted price band on Monday, 3 August 2026: its first trade, session low, session high, last trade and closing price were all 1,199 rials. Behind that number, 1,138,716,770 shares of demand remained in 2,107 orders, with zero supply at all five best levels. The stock's base volume is 1 share, so the lock was not a base-volume artefact. The board price was a quoted price, not one every buyer could transact at.
Buyer Power Gave Two Opposite Answers in One Session: 1.6 for Iran Khodro and 0.78 for Khiman, and Both Stocks Closed Green (Monday, 3 August 2026)
On the Tehran board of Monday, 12 Mordad 1405 (3 August 2026), buyer power read 1.6 for Iran Khodro and 0.78 for Khiman. Yet both closed higher and both saw positive net retail volume. The apparent contradiction shows what the ratio actually is: a measure of concentration, not direction. Per-capita retail buying over per-capita retail selling tells you how few hands the money sat in, not whether money came in or went out.
Khimen closed both green and red on Monday: the 40 rial gap between closing price and last trade, and which one the index counted
On Monday 3 August 2026 (12 Mordad 1405), the Khimen board at Iran Khodro's Iman Khodro Shargh carried two numbers with opposite signs: a last trade of 4,440 rials (up 0.23 percent) and a closing price of 4,400 rials (down 0.68 percent). The gap was 40 rials, and only the second number entered the main index. Same-day data shows base volume for Tehran-listed symbols is set to 1 share, so today's closing price is simply the volume-weighted average of the session.
Iran Market Pulse: Monday Midday, August 3, 2026; 96% of Today's TEDPIX Gain Was Booked Before 9:05 a.m.
As of 11:05 a.m. on Monday, 12 Mordad 1405 (3 August 2026), the Tehran Stock Exchange main index stood at 5,276,664 points, up 122,607 points or 2.38% on the previous close. But the tick-by-tick record shows 117,518 points of that gain, about 96% of it, was already booked at the 9:05 a.m. opening print, and the market added only 0.1% in the two hours that followed. At the same hour the free-market dollar was 191,050 tomans and a gram of 18-karat gold 18,329,560 tomans.
Iran Market Pulse: Monday Morning, 3 August 2026; Brent Slid Into the 83 Dollar Range Before Today's Talks Begin
At 07:38 on Monday 12 Mordad 1405 (3 August 2026), Brent crude traded at 83 dollars and 38 cents a barrel, about 5 percent below the previous close, after the US president said on the evening of Sunday 11 Mordad that nuclear talks with Iran would begin this afternoon. In the same minutes spot gold moved the other way, rising 0.56 percent to 4,067 dollars. In Tehran the free-market dollar is around 191,000 tomans this morning and a gram of 18 karat gold sits at 18,330,500 tomans.
Iran Market Pulse: Sunday Midday, August 2, 2026; TEDPIX Climbs 96,000 Points and Overtakes the Equal-Weight Index After Four Sessions
By 10:59 a.m. on Sunday, 11 Mordad 1405 (2 August 2026), the Tehran Stock Exchange headline index (TEDPIX) was up 96,411 points, or 1.91 percent, at 5,151,197, overtaking the equal-weight index (1.42 percent) after four straight sessions of lagging it. At the same time traded 18-karat gold fell 1.47 percent and gold funds slipped about half a percent, yet the free-market dollar set a fresh record at 194,100 tomans.
Iran Market Pulse: Sunday Morning, 11 Mordad 1405 / 2 August 2026; After the Strike Cancellation, Tether Fell 1.72 Percent
The free-market dollar closed Saturday 10 Mordad 1405 (1 August 2026) at 193,700 tomans, a fourth record in two weeks. On Saturday night Trump announced he had cancelled a planned strike and that a framework including the reopening of the Strait of Hormuz was agreed. Sunday's first prices opened lower: tether down 1.72 percent at 192,006 tomans and traded 18-karat gold down 1.58 percent at 18,475,100 tomans, while global gold had not fallen.
TEDPIX Fell 0.4% While the Equal-Weight Index Set a Record Close; a Fourth Straight Session of Small-Cap Outperformance (Saturday, 1 August 2026)
On Saturday 1 August 2026 (10 Mordad 1405), Tehran's board carried two contradictory headlines: TEDPIX closed down 20,437 points (0.40%) at 5,054,000, while the equal-weight index rose more than 6,694 points to 1,439,000, its highest close on record and a fourth consecutive session of small-cap outperformance. The less-noticed detail: that record was set on a day when more than 1,300 billion tomans of retail money left the market.
Iran Market Pulse: Saturday Midday, August 1, 2026; the TEDPIX to equal-weight gap widened to 1.1 percentage points at midsession
By 11am on Saturday 10 Mordad 1405 (1 August 2026), the TEDPIX was 0.55 percent below the previous close while the equal-weight index stood 0.58 percent higher, a gap of about 1.1 percentage points in a single session. Meanwhile the securities regulator approved the asset revaluation directive, the cash gold and FX market posted no new quote by midday, and Tether rose 0.71 percent to 194,966 tomans.
Iran Market Pulse: Saturday Morning, 10 Mordad 1405 (1 August 2026); Equal-Weight Index Hits a Record as 36 of 40 Industries Close the Week Green
The Tehran Stock Exchange reopens today, Saturday 10 Mordad 1405 (1 August 2026), after a two-day closure, having ended last week on a contradiction: the equal-weight index set an all-time record at 1,432,808 points and, per SENA, 36 of 40 active industry indices rose while 9 industries reached record highs, yet the headline index at 5,075,099 points is still 4.45% below its 16 Tir peak. In the currency market, Tether at 194,486 tomans sits 2,086 tomans above the cash dollar.
Iran Market Pulse: Friday Midday, July 31, 2026; Gold, Silver, Platinum and Palladium All Turned Red Together
This morning silver was the only green metal on the global board; by midday it had turned red too. As of 11:00 on Friday, 9 Mordad 1405 (31 July 2026), spot gold trades near $4,075 (down 0.9 percent) and spot silver near $58 (down 1.8 percent), with platinum and palladium also lower. It happens in a month when Brent has gained more than 20 percent. The reason for the contradiction sits in Washington: markets are pricing a rate hike, not a cut.
Why We Sell at the Bottom and Buy at the Top: Five Cognitive Errors Tehran's 1399 Bull Market Taught by the Book (Friday, 31 July 2026)
Nobody queues at a shop because prices went up, or flees because there is a sale. In equities, that is exactly what happens. Kahneman and Tversky showed the pain of losing an amount is roughly twice the pleasure of gaining the same amount, and that asymmetry explains why portfolios fill up with losers and empty of winners. TEDPIX closed at 5,075,098 points on Wednesday, 29 July 2026; a level many who entered in 1399 (2020) never saw, because they sold at the bottom.
Iran Market Pulse: Friday Morning, July 31, 2026; Brent Is up 20% in a Month
Iran's domestic markets are closed today, Friday 9 Mordad 1405 (31 July 2026), and board prices are still Thursday's. But the global market produced one big number: Brent crude trades near $85.50 this morning, about 20% above where it stood a month ago, though 13% below its 23 July peak. Domestically, the free-market dollar closed at 192,400 tomans and Tether, at about 193,200 tomans, moved above the cash dollar: the only currency thermometer that stays live through the two closed days.
A Low P/E Does Not Always Mean Cheap: Four Traps the Ratio Hides on the Tehran Exchange
The price to earnings ratio is the stock market's most used number and its most misunderstood. Karbon traded at a P/E of roughly 5.1 against its coal group average of 21.8 on 13 July 2026 (22 Tir 1405), a figure that screams "cheap" at first glance. This guide sets out what P/E actually measures, the four situations in which it misleads, why high inflation bends the number on the Tehran exchange, and the four questions to ask before drawing any conclusion.
How to Read a Financial Statement in 5 Minutes: A Practical Guide to Codal Reports
Codal is full of numbers, but only six of them are decisive: operating revenue, gross profit, operating profit, net profit and EPS, accumulated losses, and operating cash flow. A step by step guide to reading a listed company's income statement, with real examples from Saipa and Iran Khodro, and measured against the 61% annual inflation rate for the year to Tir 1405 (June/July 2026).
Iran's knowledge-based exports grew ninefold in four years to $2,690 million, but 84 percent of it comes from just 36 companies (Wednesday, 29 July 2026)
Exports by Iran's knowledge-based companies rose from about $296 million to about $2,690 million in four years, a more than ninefold increase. But according to the knowledge-based ecosystem report covering data through the end of 1403 (March 2025), roughly 84 percent of that figure comes from just 36 companies, while more than 12,000 others account for the remaining 16 percent combined. The story of real growth, and of a fragility that is even more real.
Iran Market Pulse: Wednesday Midday, July 29, 2026; The Headline Index Fell 32,000 Points While the Equal-Weight Stayed Green
As of 11:12 on Wednesday, 7 Mordad 1405 (29 July 2026), the Tehran Stock Exchange headline index stood 32,166 points (0.63%) below yesterday's close, while the equal-weight index was 5,225 points (0.37%) higher at the very same moment: two indices, two directions. That means today's selling is concentrated in the large caps, not across the market. Outside the hall, Brent held its overnight jump at $87.13 and domestic gold slipped even as the global ounce rose.
