Iran Market Pulse: Wednesday Midday, August 5, 2026; TEDPIX Up 2.44% and Past 5.4 Million Points

Lead

In its first session after the Arbaeen holiday, the Tehran Stock Exchange has lifted its main index by 128,784 points, or 2.44%, past the 5.4 million mark as of 11:05 on Wednesday 14 Mordad 1405 (5 August 2026). At the time of writing the index stands at 5,406,137 points and the market is still open (live data from the Tehran Securities Exchange Technology Management Company at 11:05; Iranjib recorded the same reading at 5,406,105 at 11:00 and Sahmino price data at 5,406,129 at 10:59).

The most important feature of this session is its timing. The index, which had been sitting at Monday 12 Mordad's closing level until 09:00, jumped to 5,399,919 in the 09:05 window and has oscillated in that band ever since (Iranjib, 14 Mordad). In effect, the market priced in the entire two-day holiday news flow within the first five minutes, and the following two hours have added nothing to it. That distinction between a sharp jump and a sustained climb is decisive for reading the rest of the day.

Today's Snapshot

Today's Key Headlines

• The US president said in remarks published early on Wednesday 14 Mordad that talks with Tehran are going "very well" and that the Strait of Hormuz will reopen "very soon", while warning that a severe military response awaits Iran if the negotiations fail (Eghtesad Online, 14 Mordad 1405). That double message explains the return of a risk premium to oil prices during the middle hours of the day.
• The Statistical Center of Iran put the spring 1405 unemployment rate at 9.1%; female unemployment was recorded at 16.7% and the employed population fell by roughly 450,000 year on year, while the economic participation rate also declined (Statistical Center of Iran via EcoIran, 14 Mordad 1405).
• Iran's Trade Promotion Organization issued the final list of steel and base non-ferrous metal tariff codes subject to 100% repatriation of export currency; exporters in those groups must settle all their FX obligations by selling remittances through the Nima system (Eghtesad Online citing Tasnim, 14 Mordad 1405).
• A new ranking of the 48 listed industries puts the market value of 803 companies at 18,188 trillion tomans, with base metals at 3,617 trillion and chemical products at 3,580 trillion at the top; those two industries alone hold more than 40% of market value (Mehr News Agency, 14 Mordad 1405).
• The approved factory price of the Pars Noa rose by 203 million tomans to 1,459 million tomans, even as the open car market remains subdued (Eghtesad Online, 14 Mordad 1405).
• US job openings fell by 178,000 in June to 7,359,000, a data point that feeds directly into Federal Reserve rate expectations and from there into the gold price (US Bureau of Labor Statistics via Eghtesad Online and ISNA, 14 Mordad 1405).

Currency

The cash currency market reopened today after two closed days and its direction is downward, though reading the exact figure calls for caution. At 11:05 on Wednesday 14 Mordad, Alanchand quoted the free-market dollar at 187,350 tomans bid and 189,250 tomans ask. At the same hour, TGJU's reference series still displays Monday 12 Mordad's 192,880 tomans and logs its own intraday low today at 190,980 tomans. The two series have never been identical and we report both; the defensible range for today is 189,250 to 192,880 tomans, and what both series agree on is direction rather than level: the dollar is lower than Monday's last print.

The remittance selling rate at the Iran Currency and Gold Exchange Centre, the so-called agreed rate, is 153,616 tomans and has not moved today (Iranjib and TGJU, 11:00 to 11:05 on Wednesday 14 Mordad; Sahmino price data logged 153,704 tomans at 10:31). The gap between the two rates is between 23.2% and 25.6% depending on which free-market series you take as the base, against about 25.6% this morning. The narrowing has a clear logic: the agreed rate is policy-set and acts as an anchor, so when expectations cool in the free market only one side of the equation moves. Other currencies at the same hour: UAE dirham 51,160 tomans, Turkish lira 4,040 tomans, Chinese yuan 28,140 tomans, 100 Iraqi dinars 12,400 tomans and Russian ruble 2,355 tomans (Alanchand, ask). The full table updates on the dollar price page.

Gold and Coin

Gold has reversed its morning path. This morning's pulse reported 18-karat gold at 18,235,000 tomans per gram and falling; by 11:00 the same item had risen 0.99% to 18,415,000 tomans (Iranjib, citing the Tehran Gold and Jewellery Union). EcoIran quoted the same item at 18,410,400 tomans at 09:58, and the Milli online trading platform at 18,383,000 tomans. The gold mesghal reached 79,770,000 tomans and 24-karat gold 24,550,000 tomans.

The driver is external. Spot gold stood at $4,164.28 at 11:00, up 2.08%, with an intraday low of $4,067 and a high of $4,177 (Iranjib); Eghtesad Online logged the same item at $4,173.53, up 2.31%, at 09:56, and Sahmino price data recorded Tether Gold at $4,156, up 2.25%, at 10:30. Silver has moved faster still: $61.58, up 3.36%. The mechanism is the one set out this morning, but this time both sides of the equation point the same way: the ounce is up and the toman rate is down, and because today's ounce effect is the larger of the two, the net result for domestic gold is positive.

In the coin market, the new-design coin rose 0.55% to 183,500,000 tomans, the half coin 0.53% to 94,000,000 tomans, the quarter coin 0.77% to 52,500,000 tomans, and the one-gram coin was unchanged at 27,000,000 tomans; the old-design coin held at 179,600,000 tomans (Iranjib, 11:00). The notable point is that coins have risen more slowly than the metal inside them: 0.55% against the gold gram's 0.99%. On the intrinsic-value column of that same source, this lag leaves the Emami coin roughly 1.68% below the value of its gold content, while the quarter coin premium is 12.52% and the half coin premium 0.73%. That calculation comes from a single source and should be read cautiously, but the pattern behind it is clear and independently checkable: in a fast move in the ounce, coin pricing usually catches up with a lag, and the smaller denominations, whose retail demand is stickier, hold on to their premium.

Equities

This is the most important market of the day and has posted the largest intraday move, so it gets more detail here. As of 11:05 on Wednesday 14 Mordad the main index stands at 5,406,137 points, up 128,784 points or 2.44%; the equal-weight index at 1,533,657 points, up 35,838 points or 2.39%; and the Iran Fara Bourse index at 43,861 points, up 2.58% (Tehran Securities Exchange Technology Management Company at 11:05 and Sahmino price data at 10:59). Turnover so far is about 14.5 trillion tomans across 272,623 trades, against 33.2 trillion tomans and 407,223 trades for the whole of Monday 12 Mordad's session.

A subtle but meaningful change has occurred relative to recent sessions. On Monday 12 Mordad the equal-weight index led at 2.50% against the main index at 2.39%, meaning small and mid caps were out in front. Today the order is reversed, with the main index at 2.44% slightly ahead of the equal-weight at 2.39%. The gap is small and should not be over-read, but its direction fits the day's narrative: when the main driver is a cooling regional risk premium and softer currency expectations, the largest effect lands on big dollar-linked companies rather than on small caps.

The mechanism can be unpacked further. The market value of 803 listed companies is 18,188 trillion tomans, and base metals at 3,617 trillion, chemical products at 3,580 trillion and refined petroleum products at 1,950 trillion are the top three industries (Mehr News Agency, 14 Mordad). All three earn revenue tied to the exchange rate and to global prices, and that is what is lifting the weight of the main index today. A side indicator of the same rotation shows up in the funds: the cement funds Simano and Simania are each up 3% and Simana 2.4%, while the Lotus gold fund is down 0.1% and Jam-e Tala down 0.02% (Sahmino price data, 11:00). In other words, in the very hour the global ounce was up 2%, domestic money rotated out of gold instruments and into equities.

One caveat must be stated plainly: today's net individual and institutional money flow has not yet been recorded in our data, and we will not manufacture a figure for it. Our latest record is for Monday 12 Mordad: net individual inflow of 19.2 billion shares, based on share counts across 1,077 tracked symbols (Sahmino price data). The live index level is tracked on the TEDPIX page.

Crypto

Crypto is the calmest market today, and that calm, set beside the jump in the gold ounce, is itself a data point. Bitcoin traded at $64,017 at 11:00, down 0.12%, while Alanchand logged the same item at $64,072 and ether at $1,864 at 11:05; the spread between sources is under a tenth of a percent. Bitcoin's intraday low and high were $63,907 and $64,400 (Iranjib). Put plainly, today's haven demand went to gold and not to crypto.

Tether is at 190,259 tomans, down 0.07% (Iranjib, 11:00), with Alanchand at 190,252 tomans and Sahmino price data at 190,199 tomans, so three sources are near-identical. Tether currently sits above Alanchand's cash banknote ask and below TGJU's reference series, which is the clearest sign that the cash market is still discovering price after two closed days. Globally, the Coinbase premium index has stayed negative for 78 consecutive days (Eghtesad Online citing RamzarzNews, 14 Mordad), and Russia passed its new crypto law requiring exchanges to register and hold at least 15 million rubles of capital (Eghtesad Online citing TASS and Anadolu, 14 Mordad).

Iron and Steel

Physical steel prices have not moved today and this morning's numbers still stand: 18mm Arian Foulad A3 rebar at 70,000 tomans ex-works, Anahita Gilan at 69,820 tomans, Abhar at 68,640 tomans and Abarkuh at 65,000 tomans per kilogram; 18mm Amirkabir rebar at a Tehran trading house is 69,090 tomans (Sahmino price data, 14 Mordad). Globally, the steel index is at 2,988, up 0.23%, and iron ore is unchanged at 94, while copper is up 0.58% and zinc up 0.95% (Iranjib, 11:00).

The real story in this section today is regulatory rather than price. Iran's Trade Promotion Organization issued the final list of steel and base non-ferrous metal tariff codes subject to 100% repatriation of export currency; under it, exporters in those groups are obliged to settle all their FX commitments by selling remittances through the Nima system (Eghtesad Online citing Tasnim, 14 Mordad). The channel of effect is clear: the greater the share of steel export currency routed into Nima, the larger the supply of remittances and the more the gap between the Nima and free-market rates comes under pressure from the supply side; at the company level, the same requirement pulls an exporter's effective conversion rate closer to the system rate. Quantifying that effect before Nima supply and demand figures are published would be premature.

Cars

The car market has held this morning's picture: subdued, with prices easing at the margin. The Peugeot 207 Automatic Panorama is 22 million tomans cheaper over two days at 2,658 million tomans, the Samand Soren Plus XU7P is 20 million tomans lower since the start of the week at 1,570 million tomans, and the Dena Plus Automatic is down 1 million tomans at 2,715 million tomans (Eghtesad Online, 14 Mordad).

On the factory-price side the direction is the opposite: the approved price of the Pars Noa rose 203 million tomans to 1,459 million tomans (Eghtesad Online, 14 Mordad). The two moving together means the market margin, the gap between market and factory price, is being squeezed from both ends; that is good news for a buyer and less so for a seller trading on that margin. On the production side, figures for the first four months of 1405 put output at the three large carmakers at 189,000 units, with the steepest decline at Pars Khodro (Mehr News Agency, 14 Mordad). Siba Motor's cash sale of FAW tractor units and trucks also opened today, with prices starting at 166 billion rials (Eghtesad Online, 14 Mordad).

Building Materials

Building material prices show no material change today: Tehran Cement type 2 bulk portland cement at 3,937,000 tomans and Abyek Cement at 3,593,000 tomans per tonne; in 50kg bags, Tehran Cement at 291,000 tomans, Abyek at 289,000 tomans and Saveh at 260,000 tomans (Sahmino price data, 14 Mordad). The cement, lime and gypsum industry ranks ninth among listed industries with 505 trillion tomans of market value (Mehr News Agency, 14 Mordad).

Today's contrast in this sector is telling: while the physical cement price has not moved, cement shares and funds are up 2.4% to 3% in this very session (Sahmino price data, 11:00). That gap is natural, because the equity market prices future expectations while the physical market prices today's contract. On the side of real demand, 4,546 buyers from 30 provinces sourced 1,078,033 tonnes of cement through the Iran Mercantile Exchange last week (Kalakhabar, Iran Mercantile Exchange). In the rental market, the first Tehran rent heat map puts the citywide average rent for an 85 square metre apartment at 51 million tomans a month (Donya-e-Eqtesad, 14 Mordad).

Regional and Global View

The most important global turn today has been in oil. Brent, which stood at $78.44 at 03:30 GMT in a third consecutive session of losses (Reuters via Shafaq News, 14 Mordad) and was logged at $78.91 at 09:56 (Eghtesad Online), had recovered to $80.20 by 11:07, up 1.06% on the previous day (Trading Economics; Iranjib logged the same item at $80.20 at 11:00 with an intraday low of $78.15, and OilPrice at $80.35, up 1.25%, at 11:20). West Texas Intermediate has likewise moved from $74.70 in the morning to $76.13. The likely driver is the same double-edged message from Washington today: a promise of an early reopening of the strait alongside a threat of military response should the talks fail (Eghtesad Online, 14 Mordad). Part of the risk premium drained over three sessions came back today. The live trend is tracked on the Brent crude page.

Among other global gauges, the dollar index is at 99.84, down 0.09% (Iranjib, 11:00), and that weakness, alongside soft US labour data, is the fuel behind the jump in the gold ounce: US job openings fell by 178,000 in June to 7,359,000 (US Bureau of Labor Statistics via Eghtesad Online and ISNA, 14 Mordad). In the neighbourhood, Iraq's Basrah crude rose about 3% on a day when global benchmarks fell (Shafaq News, 14 Mordad; OilPrice logged Basrah Heavy up 3.03% and Basrah Medium up 2.90%); its channel to Tehran runs through regional heavy-crude pricing and competition for the same Asian buyers. Transits of tankers with transponders switched off through Bab el-Mandeb have also risen, with two vessels carrying Saudi crude passing through the strait dark (Bloomberg via OilPrice, 14 Mordad), which means the maritime risk premium has not been fully drained. On regional currencies, the dollar stood at 47.55 Turkish lira and 6.75 Chinese yuan in our latest record (Sahmino price data, early Wednesday 14 Mordad), and European gas prices fell 4% (OilPrice, 14 Mordad).

Bottom Line

Today was equities' day, not the parallel market's. A single driver, the cooling of regional risk, added 2.44% to the main index in the first two hours of the session, pushed the free-market dollar below Monday's level and rotated domestic money out of gold instruments and into shares; in the same hour the global ounce rose 2% and pulled Tehran gold up with it, but that gain was imported rather than home-grown. The one thing to remember: almost all of today's gain was booked in the first five minutes of trading and the following two hours added nothing, so this jump should be read as a one-off adjustment for two closed days rather than as fresh momentum that repeats daily.

What to Watch Today

• The closing hour through 12:30 and whether the main index holds its 2.44% gain or gives part of it back in late trading.
• Publication of today's net individual and institutional money flow after the close, which will show whether fresh retail money drove this jump or simply a shortage of supply.
• Whether Brent holds around $80 through the afternoon, particularly after the weekly US crude inventory figures.
• The first closing prints from the cash currency market this afternoon, which will show whether the gap between the two dollar series closes or persists.
• Any official announcement on the conclusion of the interim agreement to reopen the Strait of Hormuz, which Washington again described today as coming "very soon".
• The gold bullion auction at the Iran Currency and Gold Exchange Centre, scheduled for 21 Mordad; the full list of events is in the market events calendar.