Iran’s Stock Market Reopens with Over a Third of Shares Still Barred

Context A near‑three‑month shutdown of the Tehran Stock Exchange ended with a controlled reopening on Tuesday and Wednesday. Authorities extended trading windows by one hour each day to ease the transition. The move aimed to restore liquidity while shielding investors from further losses tied to recent US‑Israeli strikes on energy, steel and utility firms.

Key Facts About 36% of the exchange’s total market capitalization, corresponding to 42 ticker symbols, stayed offline during the sessions. The TEDPIX index climbed 44,000 points on Wednesday, reaching above 3,758,000 – a gain of roughly 1.2% from the previous close. Trading in the remaining two‑thirds of listings is capped at a ±3% daily swing to curb volatility. Brokerage firms, particularly smaller ones, are reporting significant difficulties as many traders held leveraged positions that expired during the closure.

What It Means The partial reopening signals a tentative return to market function, but the continued suspension of major industrial and investment stocks underscores lingering geopolitical risk. Inflation above 70% and a weakening rial continue to erode real returns, which may keep investor appetite weak despite the index’s modest rise. Market participants will watch whether authorities lift the remaining restrictions, how brokerages cope with credit‑line pressures, and if inflation‑adjusted valuations begin to stabilize.

Watch next: any announcement from Iran’s Securities and Exchange Organization on expanding the trading list and the impact of ongoing sanctions on corporate earnings.