Controlled reopening ends Iran’s lengthy stock market shutdown

Lead

Iran’s stock market has reopened after an 80-day closure triggered by the war with the United States and Israel, but trading resumed under strict controls that kept more than a third of the market offline. The two-day controlled reopening, held on Tuesday and Wednesday, allowed investors some liquidity but also revealed the extent of damage to the country’s economic infrastructure.

According to reports from Al Jazeera, the Tehran Stock Exchange (TSE) saw modest gains on Tuesday and added 44,000 points on Wednesday, signaling cautious optimism. However, underlying troubles remained evident as authorities restricted trading in several major companies to prevent a sell-off.

Coverage Comparison

Two reports from Al Jazeera provided the primary coverage of the reopening. Both accounts emphasize the war’s causal role in the closure and the ongoing economic challenges. The first article focused on the reopening details, noting that 42 ticker symbols—representing about 36 percent of the market—were offline, and that equity funds with significant exposure to affected companies remained suspended.

The second report offered broader context, highlighting that the market had been shut since February 28 when the US and Israel launched missile attacks on Tehran and other areas. It also noted that TEDPIX, the main index, had reached an all-time high of nearly 4.5 million points at the start of 2026 before plummeting amid protests and war expectations.

Key Claims

• War-related closure: The stock market was closed for 80 days due to the war with the US and Israel, as reported by Al Jazeera. The closure began on February 28 after missile attacks.
• Restricted reopening: During the reopening, 42 ticker symbols for companies representing about 36 percent of the market were offline, according to a statement by Securities and Exchange Organization deputy Hamid Yari to state media. Equity funds with more than 35 percent of their portfolios in affected companies also remained suspended.
• Reasons for restrictions: Authorities aimed to “protect investors’ assets, prevent emotional behaviours, and create conditions for trade with more accurate and transparent information,” Yari said. The wars’ damage to economic infrastructure—including petrochemical, steel, and mining firms—was cited as a key factor.
• Market performance: TEDPIX saw modest gains on Tuesday and added another 44,000 points on Wednesday, according to the reports. However, pre-closure, the index had fallen to nearly 3.7 million points from its all-time high of nearly 4.5 million at the start of 2026.
• Economic context: The Central Bank of Iran often prints money to plug budget holes, contributing to high inflation, which was reported at more than 70 percent in late April, per official figures cited by Al Jazeera.
• Damage from strikes: US and Israeli fighter jets bombed Iran’s economic infrastructure, including petrochemical companies, steel producers, and mining and transport-linked firms, as reported by Al Jazeera.

Perspectives

The reopening was framed as a cautious step to restore market function while shielding investors from further volatility. According to Al Jazeera, the move was aimed at “protecting investors’ assets, preventing emotional behaviours, and creating conditions for trade in the market with more accurate and transparent information.”

The closing had trapped portfolios and created a credibility problem for the capital market, but authorities hoped to ease pressure by extending trading hours and limiting price fluctuations. Measures introduced before the war meant shares in the remaining two-thirds of the market could rise or fall by only 3 percent.

At the same time, the reports underscore the broader economic strain: the market remains underdeveloped due to US sanctions, and the war has exacerbated inflation and damage to infrastructure. The absence of major companies like Fajr and Mobin petrochemical giants, and Khuzestan and Mobarakeh steel giants, reflects the severity of the strikes on the economy.

Conclusion

Iran’s stock market reopening is a tentative step toward normalcy after a prolonged war-related closure. While the early sessions showed modest gains, the restrictions and offline tickers indicate that full recovery remains distant. As the country grapples with inflation, sanctions, and war damage, the market’s performance will be closely watched as a barometer of investor confidence and economic resilience.