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

1. Lead

The Tehran Stock Exchange's past week came down, in effect, to a single session. In Sahmino's recorded series, the main index (TEDPIX) rose from 6,547,933 points at the close of Monday, 9 Shahrivar 1405 (31 August 2026) to 6,907,617 points at the close of Monday, 16 Shahrivar 1405 (7 September 2026), a gain of 359,685 points, or 5.49 percent in seven days. Of those 359,685 points, 184,042, equal to 51.2 percent, were recorded in Monday's session alone.

The Tehran Securities Exchange Technology Management Company's own API returned the same two figures this morning, Tuesday 17 Shahrivar at 07:52 Tehran time: an index of 6,907,617 points with a daily change of 184,042 points. Boursenews described the move as the index's "largest daily gain" (Monday, 16 Shahrivar). The same day, the Emami gold coin fell 1.73 percent and the free-market dollar 0.41 percent. The market opens today at 09:00.

2. Today's snapshot

3. Today's headlines

• The Tehran Stock Exchange index rose 184,041 points on Monday, 16 Shahrivar, to 6,907,617 points, with retail turnover passing 37 trillion tomans; Boursenews called it the index's largest daily gain (Boursenews, Monday 16 Shahrivar).
• Roughly 7.6 trillion tomans of retail money entered the equity market during that session, and Donya-e-Eqtesad described the move as one of the index's best daily performances this year (Ecoiran and Donya-e-Eqtesad, Monday 16 Shahrivar).
• Mohsen Rezaei, secretary of Iran's Supreme National Security Council, said on Sunday, 15 Shahrivar, that Iran will establish a new restricted zone in the Strait of Hormuz; Brent crude passed 97 dollars and WTI passed 92 dollars early Monday (Al Jazeera and OilPrice.com, Monday 16 Shahrivar).
• The Central Bank of Iran, in letter number 05/141459 dated 12 Shahrivar, granted Bank Saderat Iran (symbol Vabsadr) a licence to provide gold and silver bullion vaulting for online trading platforms; the approval applies only to platforms not directly or indirectly owned by or affiliated with the bank (Codal, filed 14 Shahrivar).
• An auction of 46.66 percent of Iran Chemical Industries Investment Company (symbol Shiran), 25,399,041,090 shares offered on 14 Shahrivar by Bank of Industry and Mine on its own behalf and for Atiyeh Damavand Group (symbol Vati), drew no buyers (Codal, Monday 16 Shahrivar).
• Shareholders of the company trading as Sita approved a cash dividend of 22,000,000 rials per share for the period ended 31 Ordibehesht 1405, a payout ratio of 96.58 percent; Ako's assembly approved 3,244 rials per share at a 98.33 percent payout (Codal, Monday 16 Shahrivar).

4. Currency

The free-market dollar recorded its second consecutive down session. In Sahmino's daily free-market dollar series, the 19:59 reading on Monday, 16 Shahrivar settled at 222,100 tomans, 900 tomans and 0.41 percent below the prior reading in the same series. That follows the 1.85 percent fall of Sunday, 15 Shahrivar reported in yesterday's edition.

On the official side, the remittance dollar sell rate at the Iran Currency and Gold Exchange Centre was recorded at 161,467 tomans on Monday at 08:17, up 0.30 percent, with a buy rate of 160,014 tomans. The two rates are set by two different mechanisms: free-market supply and demand versus administrative allocation for imports and specified uses. Today's gap between them is 60,633 tomans, meaning the free rate sits 37.6 percent above the Exchange Centre remittance rate. What is notable today is that the two moved in opposite directions, the free rate down and the official rate up, which narrows the gap slightly.

In global currency markets, the dollar against the yen stands at 153.38 this morning at 07:43, 0.65 percent lower; the yen jumped 1.4 percent on Monday to its highest level since February 2026, breaking through the 155 level that had been treated as a floor after the joint Bank of Japan and US Treasury intervention (Donya-e-Eqtesad, citing Bloomberg, Monday 16 Shahrivar). The euro against the dollar is 1.1623 (Tuesday 17 Shahrivar, 07:37).

5. Gold and coin

The Emami gold coin was recorded at 230,005,000 tomans on Monday, 16 Shahrivar at 19:59, down 3,985,000 tomans or 1.73 percent. The Bahar Azadi coin was 226,085,000 tomans (down 1.39 percent), the half coin 116,500,000 tomans (down 2.15 percent) and the quarter coin 61,500,000 tomans (down 4.88 percent). Eighteen carat gold at the same moment was 23,062,200 tomans per gram, 291,400 tomans and 1.26 percent lower, and the mesghal was 99,899,000 tomans.

The coin premium moved a great deal within that single day and is worth reporting carefully. The premium, known as habab, is the portion of the coin's price that is not the metal itself. In Sahmino's series the 19:59 reading on Monday settled at 1,268,000 tomans, while the same series had been read at 1,986,000 tomans at 15:26 that afternoon (tgju.org, via Ecoiran). The premium therefore narrowed by roughly 700,000 tomans over Monday afternoon. This figure is volatile intraday and must be read with its timestamp rather than as a daily close.

The global driver moved against the domestic market overnight. Gold spot stands at 4,441.26 dollars this morning, Tuesday at 07:43, up 36.28 dollars or 0.82 percent on the prior reading in the same series; it was trading around 4,392 dollars on Monday afternoon (Ecoiran, Monday 16 Shahrivar). Eighteen carat traded gold is 23,004,100 tomans this morning at 07:44, 0.04 percent higher. Stated cautiously: yesterday the ounce rose while domestic gold fell, and what stands between the two is the exchange rate; establishing a precise causal relationship beyond this coincidence is not possible from today's data.

6. Tehran Stock Exchange and Farabourse

The Tehran Stock Exchange and Farabourse are two separate markets with two separate indices, and on Monday both rose, though not equally. TEDPIX closed at 6,907,617 points, up 184,042 points or 2.74 percent; the equal weight index rose 48,004 points or 2.59 percent to 1,902,454 points; and the Farabourse main index rose 1,302 points or 2.49 percent to 53,607 points. Across the same seven day window used in the lead, TEDPIX gained 5.49 percent, the Farabourse index 4.64 percent and the equal weight index 4.43 percent, meaning the exchange's large caps outpaced both the average share and Farabourse. Per our own earlier report, only 3 of 366 Tehran Stock Exchange symbols closed red on Monday.

The mechanism of the day is visible on the board rather than in the index, and one figure makes it explicit: the largest daily index gain came on lower turnover than the preceding session. In our recorded data, Tehran Stock Exchange turnover on Monday was 396,078 billion rials, roughly 39.6 trillion tomans, across 734,250 trades, against roughly 50.1 trillion tomans and 1,100,070 trades on Sunday, 15 Shahrivar. The explanation lies, by definition, in the daily price band: when large symbols lock at the day's ceiling with buy queues behind them, filled demand is less than available demand, so the price reaches the top of the band without a proportionate volume changing hands. A buy queue at the band ceiling is, by definition, unfilled demand at the highest price the band permits.

Sahmino's board events reading this morning, Tuesday at 07:50, shows the same picture. Bank Tejarat (Vetejarat) has a buy queue of 1,259,592,782 shares at 986 rials, Social Security Investment (Shasta) 1,208,266,168 shares at 3,068 rials, Bank Mellat (Vabmellat) 1,002,630,670 shares at 1,515 rials, Iran Khodro (Khodro) 966,582,119 shares at 743 rials and Mobarakeh Steel (Fooland) 903,897,147 shares at 2,722 rials. Four symbols, Shepna, Shasta, Shebandar and Khodro, reached their highest price in a year at Monday's close, and Shepna, Shasta, Shepdis, Shebandar and Khodro were all in their third consecutive higher close. Queues are a live pre-opening board reading and change during the session.

Is this level expensive? For the largest banking symbol, not on the exchange's own card. In Sahmino's screener, Bank Mellat was the heaviest equity on the exchange on Monday with 7,534 billion rials of turnover, and its price to earnings ratio is recorded at 3.3 against 5.54 for the banking sector; Shebandar is at 5.3 against 6.12 for the petroleum products sector, and Shepna at 7.5 against the same 6.12. These are nightly readings, to be read with their own date, and they say nothing about the next move in price. The Base Market, the thinner and more volatile board inside Farabourse with wider bands and more frequent halts, recorded no notable event in our data.

7. Crypto

Bitcoin stands at 78,841 dollars this morning, Tuesday 17 Shahrivar at 07:43, down 361 dollars or 0.46 percent. Tether Gold is priced at 4,437.75 dollars and Bitcoin Cash at 258.05 dollars. In the domestic market, Tether is 224,497 tomans at 07:44, up 0.06 percent, which is 2,397 tomans above the latest free-market dollar reading; that spread is normal and embeds transfer costs and domestic platform risk.

The global story of the day came from altcoins: open interest in altcoin perpetual futures overtook Bitcoin's for the first time since December 2024. The combined market value of altcoins outside the top ten has risen more than 10 percent since the start of September to above 200 billion dollars, and Zcash has gained 134 percent over 30 days to around 1,200 dollars. ArzDigital cautioned that rising leverage in altcoins, which are less liquid than Bitcoin, could produce heavy liquidation waves if the trend reverses suddenly (ArzDigital, Monday 16 Shahrivar).

8. Iron and steel

On the Iran Mercantile Exchange, ribbed rebar A3 size 14 to 20 last settled on Sunday, 15 Shahrivar at a weighted average of 827,933 rials per kilogram, equal to 82,793 tomans, and size 22 to 32 last settled on 11 Shahrivar at 808,940 rials, equal to 80,894 tomans. Today's point is the direction of the gap between the two sides of the market, and it must be read with its differing dates: the factory rate for Arian Foolad rebar 14 A3 recorded on Monday, 16 Shahrivar was 85,910 tomans per kilogram, which is 3,117 tomans and 3.8 percent above the 15 Shahrivar exchange settlement. Yesterday's edition reported the same pair on 15 Shahrivar at 0.6 percent below the settlement, so this gap has reversed in a single day.

Other factory rates recorded on 16 Shahrivar: Arian Foolad rebar 10 A3 at 87,270 tomans, rebar 12 A3 at 86,730 tomans, rebar 10 A2 at 87,180 tomans and rebar 12 A2 at 86,000 tomans. Globally, Shanghai rebar stands at 3,124 yuan per tonne this morning at 06:53, 0.16 percent higher. Both the factory and exchange feeds are daily and publish no daily percentage change, so these are last recorded prices.

9. Cars

In the latest prices recorded on Monday, 16 Shahrivar, the Peugeot 207 automatic TU5P model year 1405 stands at 3,060,000,000 tomans and the same car in model year 1404 at 2,950,000,000 tomans, a difference of 110,000,000 tomans, or 3.7 percent. The Peugeot 207 automatic with glass roof TU5P model year 1405 is recorded at 3,150,000,000 tomans, the manual 207 TU5P model year 1405 at 2,200,000,000 tomans and the manual 207 with ESP TU3 engine model year 1405 at 1,980,000,000 tomans. The vehicle feed updates daily and publishes no daily percentage change.

On the exchange board, however, carmakers were among Monday's leaders: Iran Khodro closed up 2.91 percent at 743 rials, reached its highest price in a year, and opens this morning with a buy queue of 966,582,119 shares. Its price to earnings ratio is recorded on the exchange card at negative 15.2, meaning the company was loss making in the period underlying that calculation, so the ratio does not carry its conventional meaning here.

10. Building materials

On the Iran Mercantile Exchange, cement type 2 (42.5) in bulk settled on Monday, 16 Shahrivar at a weighted average of 266,441 rials per kilogram, equal to 2,664 tomans, and the same type in 50 kilogram bags at 374,460 rials, equal to 3,745 tomans per kilogram. The gap between the two, both from one source and one date, is 40.6 percent; by definition it contains the cost of the bag, packaging and distribution, and should not be read as the gap between the factory and the retailer. Cement type 5 (42.5) bulk settled at 2,833 tomans and cement type 2 (32.5) bulk at 2,511 tomans, while cement type 1 (42.5) bulk last settled on 15 Shahrivar at 2,837 tomans.

On the exchange board, cement funds closed at the band ceiling on Monday in line with the market: Simano up 3.00 percent at 41,983 rials, Simana up 3.00 percent at 39,915 rials, Simania up 3.00 percent at 38,937 rials and the Ceman fund up 2.99 percent at 10,739 rials (close of 16 Shahrivar, 13:25).

11. Regional and global view

Brent crude stands at 97.47 dollars this morning, Tuesday 17 Shahrivar at 07:43, up 0.54 percent. Its channel to Tehran runs in two directions: through export revenue, and through the freight and insurance cost of imports. On Sunday, 15 Shahrivar the secretary of the Supreme National Security Council announced a new restricted zone in the Strait of Hormuz, saying any vessel entering without coordinating with Tehran would be added to Iran's sanctions list (Al Jazeera, Monday 16 Shahrivar). At the same time, per Kpler ship tracking data, six empty Qatar linked LNG carriers are in or approaching the Gulf of Oman, which may signal QatarEnergy preparing to resume loadings (OilPrice.com, citing Bloomberg, Monday 16 Shahrivar).

In East Asia, the return of Chinese oil demand has lifted prices for more distant crude grades: Congo's Djeno crude has been offered to Chinese buyers this week at a 20 dollar premium to Brent, five dollars more than two weeks ago, while China's crude imports fluctuate around 10 million barrels a day against roughly 12 million previously; Goldman Sachs estimates those imports are down about 35 percent year on year, and Beijing has begun injecting 300 billion yuan into major banks (Donya-e-Eqtesad, Monday 16 Shahrivar). The channel to Tehran here is the landed cost of competing export barrels. In Europe, the German 10 year Bund yield reached 3.36 percent, near last week's more than 15 year high of 3.3951 percent, and European natural gas prices have risen more than 120 percent since the start of the Iran war (Ecoiran, citing Bloomberg, and TradingEconomics, Monday 16 Shahrivar). In Russia, the Kremlin spokesman said resuming trilateral talks with the United States and Ukraine is not ruled out, though it is too early to set a venue or date (Donya-e-Eqtesad, citing Mehr and Agence France Presse, Monday 16 Shahrivar).

12. Conclusion

Today's verdict is plain: yesterday belonged to the stock market, and within it, to the large caps. TEDPIX rose 5.49 percent over seven days, but more than half of that ground was covered in one session, and over the same week the equal weight index returned 4.43 percent and the Farabourse index 4.64 percent, meaning the engine of this move was the exchange's large symbols rather than market breadth. The one thing to remember is that the largest daily index gain was recorded on lower turnover than the previous session, and that combination points to a shortage of supply behind the band ceiling rather than necessarily a rush of new money. Sahmino's previous call has also settled: the 15 Shahrivar call said the index would hold above 6,600,000 points to the end of the week with the equal weight index closing in the same direction, and with Monday's close of 6,907,617 points and the equal weight index up 2.59 percent in the same direction, that call held. Sahmino's new call for what comes next: the Tehran Stock Exchange index holds above 6.7 million points, as long as the buy queues in banking and refining names stay open; the level of this call is 6,700,000 points, its horizon is the end of the week, and closing below 6,700,000 points in two consecutive sessions invalidates it (call date: 16 Shahrivar 1405).

13. What to watch today

• What becomes of the pre-opening buy queues in Bank Tejarat, Social Security Investment, Bank Mellat, Iran Khodro and Mobarakeh Steel after the 09:00 open, and whether today's turnover rises above yesterday's 39.6 trillion tomans; supply at the band ceiling is what answers that question.
• Whether the equal weight index closes the gap with TEDPIX today or falls further behind, which is the difference between a broad wave and a large cap wave.
• The free-market dollar rate in the first hours of trading, after two consecutive down sessions and yesterday's close at 222,100 tomans.
• Gold spot, which rose 0.82 percent overnight to 4,441 dollars this morning, and whether domestic gold moves with it today or continues to follow the exchange rate.
• The next rebar settlement on the Iran Mercantile Exchange, after the factory rate recorded on 16 Shahrivar came in 3.8 percent above the 15 Shahrivar settlement.
• The gold coin auction and the bond auction, both recorded in Sahmino's events calendar for tomorrow, Wednesday 18 Shahrivar. The Sahmino market calendar shows upcoming events at a glance.