Tehran stocks hit record closing high as benchmark jumps 2.3%
Tehran's benchmark stock index rose more than 101,000 points, or 2.3%, on Sunday to close at a record 4.493 million points, according to IRNA.
Although the index had previously touched the 4.5 million level on January 13 and 19, it had never ended a trading session above the current level.
The market was supported by stronger buying interest from the start of trading, while the reopening of PARSAN and KALA shares without daily price fluctuation limits further reinforced the upward trend. The benchmark is now only a few thousand points away from entering the 4.5-million-point range.
The equal-weight index, which reflects the performance of companies regardless of size, also climbed 2.58% to a record 1.203 million points, indicating that the rally was not limited to large-cap stocks and that small- and mid-sized companies also played a significant role in the advance.
About 95% of listed stocks closed higher during the session, while 5.421 trillion tomans (about $30.3 million) of retail investor money flowed into equity trading, signaling continued investor appetite for the stock market.
The value of Sunday's trading exceeded 200 trillion tomans (about $1.12 billion), while the total market capitalization of the Tehran Stock Exchange (TSE) stood at more than 13.3 quadrillion tomans (about $74.3 billion).
At the same time, 1.482 trillion tomans (about $8.3 million) of retail investor funds flowed out of fixed-income funds, while gold and silver funds attracted 222 billion tomans (about $1.24 million) and 128 billion tomans (about $715,000), respectively, in retail inflows.
The gains came after months during which the Tehran Stock Exchange faced heavy pressure from wartime conditions, political 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 February 28 following US and Israeli attacks on Iran and the outbreak of war.