Iran Market Pulse: Monday Midday, August 10, 2026; TEDPIX Sets Fresh Record, Tops 5.62 Million Points

1. Lead

By 11:00am Tehran time on Monday, 19 Mordad 1405 (August 10, 2026), Tehran's TEDPIX benchmark index broke through 5,622,272 points, a fresh all time high, up 1.12 percent (62,308 points) from Sunday's close of 5,559,964 points, which itself marked the index's fifth straight day of gains. If the current pace holds through the close, today would be the sixth consecutive green session for Tehran's stock exchange. At the same time, the free market dollar held flat for a second straight day at 185,600 tomans, while Brent crude, still driven by uncertainty over reopening the Strait of Hormuz, notched a third straight day of gains to trade near $84. Together the moves suggest domestic capital keeps rotating into equities even as regional geopolitical risk fails to put visible pressure on the domestic dollar.

2. Today at a Glance

3. Today's Top Headlines

• In interviews with Axios and Israel's Channel 12, US President Trump said Washington is currently only "semi negotiating" and is waiting for economic pressure on Iran to build; Iranian Foreign Minister Araghchi said the Strait of Hormuz will not reopen until Washington meets Tehran's demands (Al Jazeera, August 10).
• US Central Command said the number of commercial vessels diverted in the Strait of Hormuz since the naval blockade resumed has reached 55, up two from Saturday's count (Donya e Eqtesad, citing Tasnim, August 9).
• The 4 percent IPO of Ehya, a sponge iron producer, prices at 2,582 rials a share and goes ahead today, Monday 19 Mordad, on Iran's Fara Bourse (Kalakhabar, August 9).
• The head of Iran's Chamber of Cooperatives said the first tranche of the 2025 (1404) Justice Shares dividend will be paid by the end of Mordad or during Government Week (Donya e Eqtesad, August 9).
• China's producer inflation eased to 3.5 percent in July, a three month low and below market forecasts (Daily Sabah, citing China's National Bureau of Statistics, August 9).

4. Currency

Tehran's free market dollar held at 185,600 tomans on Monday, the same level Sahmino's own data recorded at the close of Sunday trading (7:59pm Tehran time). Khabaronline reported the rate as an extension of a two day slide that saw the dollar lose the 186,000 toman level on Sunday to trade at 185,910 tomans, according to Donya e Eqtesad. The euro traded at 214,530 tomans. Meanwhile the official exchange center dollar rate, the "agreed" institutional rate set through Iran's Exchange Center, rose 0.31 percent on Monday to 154,931 tomans, keeping the gap between the free and official rates at roughly 30,000 tomans. Market commentary in the cited reports attributes the dollar's relative calm, even as global oil rises on Hormuz risk, to the continuing rotation of retail liquidity into Tehran stocks and to investors awaiting clarity on indirect US Iran talks.

5. Gold and Coin

According to the Tehran Gold and Jewelry Union's figures, carried by Ecoiran on Monday morning, Tehran's gold and coin market trended lower: 18 karat gold fell to 18,675,900 tomans a gram and the new design coin to 185,800,000 tomans, both down from the prior day. Sahmino's own live price data, as of Sunday's close (7:59pm Tehran time), had 18 karat gold at 18,801,600 tomans a gram (down 0.07 percent) and the Emami coin at 186,995,000 tomans (up 0.25 percent from the day before), suggesting Monday morning's dip is a continuation of a small pullback rather than a fresh move. The standout figure in the coin market is the Emami coin premium, which fell 27.5 percent through Sunday's close to about 2,787,000 tomans, sharply narrowing the gap between the coin's market price and its intrinsic gold value, a move Sahmino's own prior coverage has tied directly to speculative demand rotating out of coins and into stocks. Globally, spot gold traded at $4,352.92 per Sahmino's own feed at 10:48am Tehran time; Kitco News and Trading Economics put the same morning's level near $4,325.53, down 0.41 percent on the day. Despite the modest gap between the two readings, both confirm gold remains above the $4,300 mark, holding a weekly gain of more than 7 percent after July's weak US jobs report.

6. Stocks

Today's live Tehran Stock Exchange session extends a six day rally. On the exchange's own tape, TEDPIX is up 62,308 points (1.12 percent) to 5,622,272 as of 11:00am, while the equal weight index rose a slower 0.62 percent to 1,583,589 points. That is a reversal from recent sessions, when the equal weight gauge typically outpaced the headline index: today TEDPIX, which is more heavily weighted toward large caps, is outpacing equal weight, a sign that buying is concentrated in the market's bigger names. The Fara Bourse (OTC) index rose 0.71 percent to 45,374 points. Trading has been brisk, with 522,053 trades recorded so far versus 1,222,295 for all of yesterday's full session, though today's full retail versus institutional (haghighi/haghoughi) flow data has not yet been finalized in the system at this hour. Yesterday, Sunday 18 Mordad, retail trading value hit an all time high of 65 trillion tomans, according to Donya e Eqtesad, but late session selling pressure pushed about 6.9 trillion tomans of retail money out of the market, the first daily outflow after four straight days of inflows. That divergence between the rising index and retail outflows is the main question traders are asking about the rally's durability. Separately, the 4 percent IPO of Ehya, a sponge iron producer based in Kerman's Baft, priced at 2,582 rials a share with a total company valuation near 16.6 trillion tomans, is going ahead today on the Fara Bourse.

7. Crypto

Bitcoin traded at $65,254, up 0.29 percent, and Ethereum at $1,926, up 0.34 percent, as of 10:48am Tehran time; the toman denominated Tether rate rose a slight 0.09 percent to 186,753 tomans. On the structural side of the global market, CoinDesk reported (August 9 and 10) that more than 100 crypto projects have shut down or gone bankrupt in 2026, including BitMEX, BitMart, Movement Labs and Storj Labs, all of which announced closures within a single week in late July; executives including Espresso Systems' CEO describe the trend as a sign the market is maturing after a period of overexpansion in layer two networks. Separately, Strategy (formerly MicroStrategy) sold about 1,638 more bitcoin worth $104.7 million between July 27 and August 2, according to its SEC filing, its fourth sale since June with no new purchases recorded (CoinDesk and Arzdigital, August 10).

8. Iron and Steel

The Iran Mercantile Exchange's latest cleared settlement price for A3 rebar, sizes 14 to 20mm (Sunday, 18 Mordad, the last day this line traded) was 64,215 tomans per kilogram, while factory prices for comparable rebar (Aryan Steel, size 14, grade A3) are trading in the free market today, Monday, near 70,450 to 71,820 tomans per kilogram, meaning free market prices are running roughly 10 to 12 percent above the exchange's last official settlement. That gap, which has persisted in recent days, is mainly attributed by Kalakhabar to constrained supply at exchange auctions and rising energy and freight costs. The Iran Mercantile Exchange separately announced it will change hall separation, order timing and auction methods starting 31 Mordad, and will extend the closing time for its financial markets (commodity funds, deposit certificates, standard parallel salaf bonds and options) from 25 Mordad onward to 6:00pm.

9. Cars

In the domestic car market, the Saipa Pride 151 (2026 model, GX trim) is priced today near 1,150,000,000 tomans, the 2025 model (SE trim) near 1,050,000,000 tomans and the 2025 model (GX trim) near 1,100,000,000 tomans. As Sahmino's report yesterday found, the car market has shown resistance despite the free market dollar's two day decline, with some models even getting more expensive, a pattern that has not shifted meaningfully in today's listed prices.

10. Building Materials

On the Iran Mercantile Exchange, bulk Type 2 (42.5) cement cleared at 2,833 tomans per kilogram in Sunday's last settlement. At retail, a 50 kilogram bag of Type 2 cement is priced today, Monday, at 289,000 tomans for the Abyek brand, 291,000 tomans for Tehran Cement and 260,000 tomans for Saveh Cement, meaning bagged retail cement runs at roughly double the per kilogram price of bulk cement cleared on the exchange, a gap mainly attributable to packaging, distribution and retail margin.

11. Regional and Global Outlook

Brent crude notched a third straight day of gains during Asian trading hours on Monday: Reuters, as carried by IRNA, put it at $84.79 (up 1.44 percent), Trading Economics and Oilprice.com placed it near $84.40, and Sahmino's own live feed showed $83.97 (up 0.50 percent) at 10:48am Tehran time. The main driver remains uncertainty over reopening the Strait of Hormuz, where, according to Iran's deputy foreign minister Kazem Gharibabadi, an Iran Oman understanding on new vessel transit arrangements is nearing its final stage but still does not amount to a full reopening; CENTCOM separately reported 55 commercial vessels diverted from the waterway. That risk feeds directly into shipping and insurance costs for Persian Gulf oil and commodity exports. In China, the National Bureau of Statistics said Sunday that producer price inflation eased to 3.5 percent in July, a three month low, while consumer inflation slowed to 0.5 percent, both below market forecasts, a slowdown ANZ's senior China strategist attributed to both falling oil prices and softening domestic demand (Daily Sabah). The Turkish lira traded at 47.72 per dollar (up 0.08 percent) and the Iraqi dinar at 1,263 rials per dinar (down 3.33 percent from the prior day) as of 10:47am Tehran time; Iraq's government separately said it has recovered about $371.6 million in stolen assets so far under its "Dawn Crackdown" anti corruption campaign (Shafaq News).

12. Takeaway

Today was stocks' day, not the dollar's and not gold's: TEDPIX broke through 5,622,272 points for a fresh record, the free market dollar sat still for a second straight day, and domestic gold and coins even edged lower, while global oil climbed on Hormuz risk. The one thing to remember: today's headline index gain is outpacing the equal weight index, meaning fresh money is favoring the market's bigger names, but yesterday's index gain came alongside a 6.9 trillion toman retail outflow. The current rally still needs fresh inflows later this week to be confirmed.

13. What to Watch Today

• Today's Tehran Stock Exchange close at 12:30pm, and whether TEDPIX holds its 1.12 percent gain through the session or faces the kind of late selling pressure that trimmed Sunday's rally.
• The outcome of the Ehya share IPO on the Fara Bourse and the demand it registers.
• The free market dollar's path for the rest of the day, after two days holding around the 185,000 toman level.
• Payment of the first tranche of the 2025 (1404) Justice Shares dividend, which the Chamber of Cooperatives says will land by the end of Mordad or during Government Week.
• Continued indirect Iran Oman talks on transit arrangements through the Strait of Hormuz, which feed directly into global oil prices and the risk premium in parallel markets.