Title: Tehran Stock Exchange Surges, Analysts Forecast Continued Growth Amid Policy Shifts
A Landmark Day for the Market
The Tehran Stock Exchange witnessed a significant rally on Sunday, with the main index (TEDPIX) climbing by over 60,000 points to close at a historic high of 2,854,000 units. This robust performance propelled the total market value into the 8.5 quadrillion tomans range, signaling a strong recovery and renewed investor confidence. The surge was accompanied by a substantial inflow of 938 billion tomans from retail investors.
Sectoral Performance and Driving Forces
The day’s growth was broad-based, with the equal-weighted index also rising by 9,406 units to reach 826,000 points. Key contributors to this upward trend were major export-oriented companies, particularly in the basic metals and petrochemical sectors. Symbols for “Fars” and “Fameli” alone contributed over 14,000 units to the index’s gain.
Five major industrial groups—Basic Metals, Metal Ores, Chemical Industries, Oil Products, and Multi-Branch Industries—were at the forefront, collectively attracting 723.1 billion tomans in retail investment. This investor interest is largely tied to these companies’ plans to offer their surplus foreign currency on the secondary trading hall of the exchange center. This strategic move is anticipated to boost their operational revenue and strengthen their financial standings in upcoming reports.
A Shift in Market Leadership
This trend marks a notable shift in market dynamics. After two weeks of leadership from the banking and automotive sectors, investor focus has pivoted decisively towards export-driven industries. The inflow of capital into steel, metal, and oil groups significantly outpaced that into the previously leading sectors.
Furthermore, cement company stocks gained notable traction following price increases on the commodities exchange, attracting 54.7 billion tomans and even surpassing the automotive group in retail investment appeal. The over-the-counter (OTC) market mirrored this positive sentiment, with its index rising by 205 points.
Expert Outlook and Political Context
Market analysts attribute this bullish trend to a combination of factors, including evolving economic policies. The narrowing gap between the informal market exchange rate and the rate at the official trading center, particularly after the launch of the secondary trading hall, is seen as a key stabilizer.
Experts believe these conditions create a favorable environment for continued growth. They forecast a high probability that the TEDPIX will enter the 2.9 million unit channel this week, with the potential to continue its ascent toward the 3 million unit milestone. The positive momentum is expected to persist in Monday’s trading session, with the leading sectors of basic metals, refineries, and petrochemicals likely to remain in the spotlight, supported by the strategic financial maneuvers of export-oriented firms.
