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 main stock index hit a fresh record today, but institutions sold every single day this week. The index climbed to about five million five hundred sixty thousand points by August ninth. That is the highest level Tehran's main index has ever reached. This rally lines up with hopes for an Iran Oman deal to reopen the Strait of Hormuz. From August second to August ninth, the index closed higher in every single session. Unlike some famous nominal rallies elsewhere, Iran's currency actually strengthened this time. The free market dollar fell more than four percent from its mid July record. In each of those same five sessions, retail investors bought and institutions sold. Net retail buying rose from about eight billion shares to thirty one billion shares. But Iran's economy wide PMI is still forty seven point three, its sixteenth month below fifty. Back in July, the exact opposite happened, with stocks falling for seven straight sessions. If Iran and Oman reach a deal, this rally and the weaker dollar could both continue. Iran's August PMI report, due in early September, will be the next real signal. Remember this: a rising index alone does not tell you who is actually buying it. Full analysis is on Sahmino dot com; do you trust this record, or the institutional selling?