After nearly three months of closure due to war, Iran's stock market reopened on Tuesday and Wednesday (May 19-20, 2026) with several control measures aimed at limiting investor risk.
According to the Securities and Exchange Organization of Iran, about 42 stocks — representing 36% of market value — did not participate in trading sessions. Among them were petrochemical giants Fajr and Mobin, steel conglomerates Khuzestan and Mobarakeh, as well as utility and investment companies with large portfolios in infrastructure that had been targeted by US and Israeli strikes. Equity funds with more than 35% of their portfolio in heavily affected companies were also temporarily suspended from trading.
Hamid Yari, Deputy Director of Supervision at the Securities and Exchange Organization, said trading hours were extended by one hour each day to facilitate the reopening. Pre-war measures to prevent major financial volatility remained in place, with a price fluctuation band of only 3% for stocks of the remaining two-thirds of companies.
The main TEDPIX index of the Tehran Stock Exchange posted a slight gain on Tuesday and added another 44,000 points on Wednesday, reaching over 3,758,000 points ahead of the weekend. However, the index has fallen sharply from its record high of nearly 4,500,000 points earlier in 2026, before nationwide protests and war disrupted the market.
Economist Mehdi Haghbaali told Al Jazeera that the reopening went better than expected, but added that this might reflect the economy's poor state more than any genuine positive signal. Inflation surged above 70% by the end of April, alongside a sharp depreciation of the Iranian rial against the US dollar, causing real stock prices to fall. US naval blockades of southern Iranian ports have further worsened the situation.
Haghbaali warned that pressure from inflation, trade disruptions, and the burden of rebuilding war-damaged infrastructure would continue to weigh on the market. "A peace agreement between the US and Iran could fundamentally change the outlook, improve market expectations, and bring relief," he added.
