Tehran, Iran – The Iranian stock market is set to reopen this week following an 80-day closure prompted by the conflict with the United States and Israel. While not the primary engine of economic financing in sanctions-hit Iran, the reopening could offer crucial insights into the nation’s economic health and allow authorities to gauge investor confidence and market liquidity.
Trading for shares, equity funds, and equity-linked derivatives will resume on Tuesday and Wednesday, ahead of the Iranian weekend. Operations will be extended by an hour to provide a larger window for top firms that will be disclosing important information after sustaining war damages, as well as those that held shareholder meetings during the stoppage.
The stock market, isolated from global indexes due to Western sanctions, has been shut since February 28, following missile attacks by the US and Israel on Tehran and other parts of the country. Hamid Yari, deputy of the Securities and Exchange Organization (SEO), told state media that the move aims to “protect investors’ assets, prevent emotional behaviours, and create conditions for trade in the market with more accurate and transparent information.”
While the closure might have initially prevented disorderly panic selling, it also trapped portfolios, accumulated pressure on anxious investors, and eroded the capital market’s credibility. TEDPIX, the main index of the Tehran Stock Exchange, had reached a record high of nearly 4.5 million points in early 2026 but plummeted after thousands died during nationwide protests in January, followed by a 20-day state-imposed internet shutdown. Escalating war expectations with the US and Israel further spooked investors, leading to capital outflow and TEDPIX standing at approximately 3.7 million points before the closure.
What’s expected with the reopening?
This week’s reopening may provide clues about the market’s capacity to generate liquidity, yet many Iranians continue to hold savings in foreign currency, gold, housing, cars, cryptocurrency, or other assets. Banks and the state remain the largest financiers of economic activity in Iran, a country grappling with deep-seated issues like chronic inflation and severe sanctions. The Central Bank of Iran frequently prints money to cover budget deficits and sustain the economy, which, however, exacerbates inflation and diminishes Iranians’ purchasing power.
The economic challenges have been intensified by the war and a naval blockade imposed by the US on Iran’s ports on April 13, despite a fragile ceasefire agreed five days prior. During the conflict, US and Israeli fighter jets extensively bombed Iran’s economic infrastructure, including petrochemical companies, steel producers, and mining and transport-linked firms—key performers in the capital market.
It remains uncertain how much information Iranian companies will be permitted to disclose regarding war damage, given ongoing security risks and the persistent threat of renewed fighting. According to Donya-e Eqtesad, Iran’s largest financial daily, some categories, such as maps, production processes, and designs, could be deemed “commercial secrets.” In such cases, companies might submit sensitive data to the SEO while avoiding full public online disclosure.
SEO Chairman Hojatollah Seyyedi informed the government-run IRNA news agency last month that companies would be categorized for the reopening: those with direct war damage (e.g., petrochemicals, steel producers), those affected via suppliers, customers, or subsidiaries, and firms impacted by the general environment.
Bijan Khajehpour, a managing partner at Eurasian Nexus Partners, a Vienna-based international consulting firm, told Al Jazeera that the stock exchange reopening would need to be “closely controlled” due to “serious” concerns about investors engaging in “panic selling to generate liquidity.” Khajehpour acknowledged the government’s “massive fiscal pressure” but urged it to implement support measures to “prevent panic selling.”
Under a pre-existing limit set by Iranian authorities to curb fluctuations in the nascent market, most shares on the Tehran Stock Exchange and the Fara Bourse over-the-counter market can only rise or fall three percent from the previous closing price in a single trading day. This mechanism can slow a visible decline but can also trap selling pressure.
Insights from a two-week closure during the June 2025 war with Israel may also offer clues for this week’s reopening. In the weeks following that “12-day war,” the main index of the Tehran exchange dropped over 15 percent before reaching a new all-time high in early 2026. However, this strong nominal rally was primarily a byproduct of rising inflation and asset repricing based on the increasing value of the US dollar in the local market, rather than a sign of significant investment growth.
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