Iranian stock market reports historic trade as shares surge
The Iranian stock market has witnessed a historic, all-out surge in trading across all listed shares, driven by positive news that companies and businesses may resume or expand operations following a halt caused by the US-Israeli aggression against Iran.
Tasnim news agency reported on Saturday that during a portion of the trading hours at the Tehran Stock Exchange (TSE) earlier in the day, no single trading index offered by companies for their shares was in the negative zone – a first in the history of the Iranian stock market.
"Today, the capital market experienced one of its most unique trading days," the report said, adding that even veteran traders at the TSE had described the situation as unprecedented.
According to the report, the best performers on Saturday were the National Iranian Copper Company and iron ore mines located in central and southeast Iran, followed by banks and the state-run life insurance company.
Improved investor expectations, increased optimism about economic and political stability, and an influx of liquidity into the stock market were cited as the main reasons behind the exceptional and historic surge.
However, experts are waiting to see how the TSE performs in the coming days, and whether it can truly recover after weeks of stagnation caused by the military tensions surrounding Iran, the report added.
The growth in Iran's local stock market comes amid reports that Iran and the United States have moved closer to signing an initial deal aimed at ending the US-Israeli aggression against Iran.
According to the reports, under the deal, the US would commit to withdrawing its forces from regional waters surrounding Iran and lifting a maritime blockade imposed on the country, in return for Iran gradually easing its restrictions on cargo transit through the Strait of Hormuz in the Persian Gulf.
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