Iran Market Pulse: Tuesday Midday, 20 Mordad 1405 / August 11, 2026; TEDPIX Sets a Second Straight Record, Tops 5.742 Million

Lead: Tehran's TEDPIX index rose 1.57% (up 88,618 points) from yesterday's close to top 5.742 million by about 11:00am Tehran time on Tuesday, 20 Mordad 1405 (August 11, 2026), a second straight record trading session; Monday's close had itself set a record, up 1.69% at 5.654 million. At the same time, Brent crude extended its multi-day rally past $89 a barrel; after fresh Houthi ballistic-missile strikes on Yemen and a drone attack on Libya's Zawiya refinery, the Strait of Hormuz risk premium came back into oil prices, and that same premium, channeled through refining and metals shares, helped fuel today's Tehran record.

Today at a glance

Today's top headlines

• Yemen's Houthis launched fresh ballistic-missile attacks on al-Makha and Marib, and a drone strike hit Libya's Zawiya refinery; Bank of America said Hormuz traffic needs to rise tenfold to stabilize the global oil market (Al Jazeera and OilPrice.com, Tuesday).
• Iran's foreign minister Araghchi outlined conditions for a safe Hormuz reopening in a phone call with Germany's foreign minister; Trump claimed the US Navy has "100 percent" control of the strait after fully clearing mines (Khabar Online and Donya-e-Eqtesad, Tuesday).
• Tehran's metals-products index jumped 6.72% Monday to an all-time record, and total market capitalization across Iran's four exchanges topped 20,000 hazar-milliard toman, up 64% in a year (SENA, Tuesday).
• Tehran's free-market dollar fell for a fifth straight day Monday to a one-month low; domestic and assembled car prices began falling today (Donya-e-Eqtesad and Khabar Online, Tuesday).
• The dollar rose in Baghdad and Erbil Monday, with $100 fetching about 153,000 Iraqi dinars; Turkey's annual inflation eased to 31.75% in July (Shafaq and Trading Economics, Tuesday).

Currency

Tehran's free-market dollar closed at 185,400 toman Monday evening at 8:00pm (down 500 toman, 0.27%), which Donya-e-Eqtesad reported as a fifth straight daily decline and a one-month low; the euro eased a similar 0.28% to 214,250 toman. On the official side, the "agreed" (توافقی) dollar rate sold through the Iran Currency and Gold Exchange Center rose 0.14% this morning at 8:00am, against the grain of the free market, to 155,145 toman (buy rate: 153,749 toman); the gap between the two rates remains close to 30,000 toman. No fresh free-market print had posted as of this report; today's close will show whether the five-day slide continues.

Gold and coin

Global spot gold briefly topped $4,400 this morning (up more than 1%, per ecoiran), before easing back to $4,361.68 by 10:48am (down 0.62% from last night). Silver similarly pulled back to $64.46 (down 1.99%) after touching a seven-week high above $65. Domestically, 18-karat gold eased 0.03% Monday evening as the rial firmed slightly, closing at 18,809,300 toman per gram; the Emami coin was essentially flat (down 0.01%) at 186,505,000 toman. The Emami coin's premium, per TGJU data Monday evening, stood near 3,963,000 toman (about 2.1% of the coin's price); a previous Sahmino report found the quarter-coin's premium still running near 10%, a sign the different coin sizes are behaving differently in this low-volatility stretch.

Bourse and Farabourse

TEDPIX rose 1.57% (up 88,618 points) from yesterday's close to top 5.742 million by 11:00am today, a second straight record session; Monday's close itself had set a record at 5,654,178, up 1.69% (94,214 points), a figure independently confirmed by ecoiran. The equal-weight index rose 1.16% (18,457 points) today to 1,605,633. Bourse trade value had reached roughly 22.1 hazar-milliard toman by that hour. Farabourse rose 1.13% (511 points) to 45,942, with trade value past 230 hazar-milliard toman by 11:00am; Farabourse's index is an entirely separate market from Tehran's TEDPIX, and a move in one is never evidence of a move in the other.

The main driver, per ecoiran, was retail money returning to refining and metals shares; Monday saw a net roughly 12.9 billion shares of retail buying on the bourse alone, while institutions were net sellers. That same rotation drove Tehran's metals-products index up 6.72% Monday to an all-time record, with the industry-30 index up 1.21% (SENA). Total market capitalization across Iran's four exchanges has now passed 20,000 hazar-milliard toman, up 64% over the past year (SENA). On today's board, the Kama (Bama) mining stock stayed locked in its buy queue for a second day, with buyers only at all five price levels, a sign of fast-moving demand in some mining and metals names.

This rally is unfolding alongside Brent crude's own advance (see the regional and global section), which translates directly into higher dollar-denominated revenue for refining and petrochemical names; caution is still warranted, since a geopolitical risk premium that eases along with Hormuz tensions can just as quickly drain back out of oil prices, and the related shares with it.

Crypto

Bitcoin traded down a slight 0.2% at $63,970 by 10:47am today; Tether's toman rate rose 0.28% to 187,146 toman. Per Arzdigital, Bitcoin whale accumulation (large wallets) has grown 7.1% over the past eight weeks to a six-month high, and spot Bitcoin ETFs logged over $853 million in inflows last week, their best week since April. Taken together the data points to steady institutional demand, though bitcoin's own spot price has not visibly reacted to those flows today.

Iron and steel

The Iran Mercantile Exchange's latest settlement for A3 rebar, 14-20mm, closed Sunday at 64,215 toman per kilogram; the 22-32mm size last traded Wednesday, 14 Mordad, at 69,526 toman per kilogram. On the open market, Aryan Steel's factory-gate rebar is priced today between 68,640 and 70,000 toman per kilogram. The commodity exchange is hosting the sale of 817,487 tons of product across its halls today (IME Report), after 415,525 tons traded yesterday, led by the industrial hall. The sector's underlying backdrop remains difficult: the head of Iran's Steel Association said Monday that the energy imbalance of the past four to five years has cost the industry nearly $18 billion (Donya-e-Eqtesad), even as the bourse's metals index hits records: a reminder that the equity story and the factory-floor story are moving on different tracks right now.

Cars

Iran's domestic and assembled-car market turned lower today; per Khabar Online, the Rira model fell nearly 97 million toman and most domestic and assembled models saw price declines. That extends a trend Donya-e-Eqtesad has tracked since the start of Mordad: the car market is down 2.5% over that short span, with assembled models hit hardest. Notably, today's decline coincides with the free-market dollar's fifth straight losing day; the car market appears to finally be following the currency's move. The Pride 151 GX held steady at 1.15 billion toman on Sahmino's own official price list today.

Building materials

Type-2 (42.5) bulk cement settled Monday on the commodity exchange at 2,789 toman per kilogram, with the 50kg bag of the same type at 3,881 toman per kilogram. At retail, a 50kg bag of Abyk's Type-2 Portland cement is priced today at 289,000 toman. One local story clarified an otherwise worrying headline: an explosion heard yesterday in Khamir port, Hormozgan, was, per Donya-e-Eqtesad, not a security incident but routine blasting at a local cement company's quarry, a distinction that matters given how sensitive Hormozgan has become amid Strait of Hormuz tensions.

Regional and global outlook

Brent crude rose 1.58% ($1.39) to $89.17 by 10:48am today (OilPrice.com logged a similar $89.56, up 2.1%); that extends yesterday's near-3% climb to $85.9, even as Hormuz shipping traffic has collapsed to just 8 vessels a day, per Al Jazeera. Bank of America warned that Hormuz traffic needs to rise tenfold to stabilize the global oil market amid a severe worldwide diesel and gasoline shortage (OilPrice.com). Today Yemen's Houthis launched fresh ballistic-missile strikes on al-Makha and Marib, and a drone attack hit Libya's Zawiya refinery (Al Jazeera): two events that revived the geopolitical risk premium in oil prices. At the same time, Iran's foreign minister Araghchi outlined conditions for a safe Hormuz reopening in a call with Germany's foreign minister, and Trump claimed the US Navy has "100 percent" control of the strait after fully clearing mines (Khabar Online, Donya-e-Eqtesad); Iraq is also exploring alternate oil-export routes via Jordan and Syria to cut its Hormuz dependence (Shafaq). This chain has a direct channel into Tehran's bourse and currency market: every added dollar in the oil price feeds export revenue and the state budget, and reaches today's board through the same refining and petrochemical names seen in the bourse section above.

The US Dollar Index (DXY) is little changed today, up 0.04% at 99.85 (Trading Economics). Closer to Iran, the dollar rose in Baghdad and Erbil Monday, with $100 fetching about 153,000 Iraqi dinars; Basrah crude has recovered 24% off its July low to $57, and Iraq's ISX60 stock index rose 2.1% in July (Shafaq); Iraq is Iran's largest non-oil export destination, so strength or weakness in its currency and market feeds straight back into Iranian export demand. The Turkish lira is little changed today (USD/TRY 47.74, up 0.08%), while Turkey's annual inflation eased to 31.75% in July (Trading Economics); Turkey is a major route for Iranian border trade and tourism, and the lira's rate is a rough gauge of Iranian goods' competitiveness there. The Russian ruble strengthened about 0.61% against the dollar today (USD/RUB 82.00); the ruble reaches Tehran indirectly, through OPEC+ coordination with Russian oil policy feeding into the same global oil price behind today's board.

Bottom line

Today was a story of two records converging, not one: Tehran's TEDPIX set a record for a second straight session, and Brent crude extended its multi-day climb past $89, both driven by the same source, the Strait of Hormuz. One thing worth remembering: when a geopolitical risk premium comes back into oil, the first place retail money usually runs on Tehran's bourse is refining and metals shares, not necessarily the broad market.

What to watch today

• Where the free-market dollar finally settles this evening: does the five-day slide continue, or does the market turn?
• How the board reacts in the session's final half-hour to Brent above $89, especially in refining and petrochemical names.
• The commodity exchange's 817,487-ton offering across its halls, continuing through the end of today.
• Subscription for the commodity exchange's twelfth silver fund (ticker Silva), set for next Sunday.
• Developments on the ground around the Strait of Hormuz, which could redirect oil, and Tehran's bourse with it, within hours; see Sahmino's special report from yesterday for fuller context.