Tehran Stock Exchange surges as main index nears 8 million mark

Tehran - BORNA - The significant jump pushed the TSE's benchmark index to 7,977,000 points.

Meanwhile, the equal-weighted index climbed by more than 48,000 points to surpass 2,113,000. This parallel growth indicates that the rally was not confined to large-cap shares, with a substantial portion of the broader market also moving in a positive direction.

During Tuesday's session, over 618,000 transactions were executed at the TSE, with the value of retail trades reaching approximately 313 trillion rials.

Market data suggests that despite the total number of trades falling below one million, the index jump was primarily driven by fortified demand for blue-chip and major index-moving stocks.

Tickers for Fameli, Fars, Taban, Foolad, Shasta, Tapico, and Webmellat had the most positive impact on the TSE benchmark.

The over-the-counter Iran Fara Bourse (IFB) experienced a similar bullish trend. The IFB main index gained 1,415 points to close at 63,338, with traders conducting more than 434,000 transactions.

Fezar, Arya, Marun, K Gohar, Bpas, Ney Shekar, and Sharanel were the most impactful symbols on the IFB index.

Market analysts note that the near 200,000-point jump in the main index, coupled with the growth of the equal-weighted index, underscores heightened demand and a strong inflow of liquidity into the equity market.

However, standing just shy of the eight-million threshold transforms this level into a critical psychological boundary for traders. The market's reaction to this mark in the coming days is expected to play a decisive role in determining the index's short-term trajectory and the sustainability of the current rally.

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