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Tehran stocks log first all-green trading session as benchmark jumps
According to Tasnim News Agency, the TSE experienced one of its most unusual trading days, with all sectors and both large- and small-cap stocks trading in positive territory. Market data showed green dominated the trading board throughout the session in what Tasnim described as a first for Iran’s stock market.
Tehran’s main stock index gained 79,723 points at the close of trading to hit 4.153 million points.
Major index-heavy stocks, including National Iranian Copper Industries Co., Persian Gulf Petrochemical Industries Co., Social Security Investment Co., Mobarakeh Steel Co., and Iran Khodro Co., along with dozens of other shares, all traded in the green, helping drive a broad-based market rally.
FMLI alone contributed 16,000 points to the benchmark index’s rise. Other stocks that significantly supported the index included Esfahan Oil Refining Co., Bank Mellat, and Bandar Abbas Oil Refining Co.
Among the most actively traded stocks, Bank Mellat recorded transactions of 10 billion shares worth 1.1 trillion rials, while Sepico traded 19 million shares valued at 7.6 billion rials and Chadormalu Mining and Industrial Co. traded 1.1 billion shares worth 295 billion rials.
The gains came after months during which the TSE faced heavy pressure from wartime conditions, uncertainty and a prolonged trading halt, prompting many market participants to adopt a cautious outlook.
Trading on the TSE resumed after an 80-day suspension on May 19, with Iranian equities ending the session stronger than expected and showing early signs of stability following the prolonged halt caused by the war.
The stock market had been closed since Feb. 28 following US and Israeli attacks on Iran and the outbreak of war.