Iran's Stock Market Reopens After 80-Day Conflict, Suffering 72% Losses

Iran's Stock Market Reopens After 80-Day Wartime Closure

The Tehran Stock Exchange (TSE) reopened on Tuesday, marking the end of an 80-day wartime closure. The market's verdict on the conflict was immediate and split, with the headline index rising, but nearly three-quarters of stocks on the exchange falling on the first day of trading.

The TEDPIX, Iran's main stock index, gained 2,500 units to close at 3,716,000 points on Day 1. Despite this gain, only 28 percent of stocks traded in positive territory during the session, while the remaining 72 percent fell or were flat. More than 40 company tickers remained suspended entirely, stocks of firms that sustained physical damage, supply chain disruption, or revenue losses during the 80-day conflict and have not yet filed the required disclosures to resume trading.

Iran's president stated that the government is working to overcome the economic fallout from the war. The TSE was closed on February 28, 2026, within hours of joint US-Israeli missile strikes on Tehran and other parts of Iran. The decision to close the exchange was intended to safeguard investors' assets, curb emotional decision-making, and foster a trading environment with more accurate and transparent information.

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The TEDPIX had reached an all-time high of nearly 4.5 million points at the start of 2026, but it then fell sharply following nationwide protests and a 20-day state-imposed internet shutdown. By the time war began and the exchange shut on February 28, the index had fallen to approximately 3.7 million points, with investors pulling money out amid escalating military tensions.

Between January 8 and February 21, 2026, small investors had already withdrawn around 107.8 trillion rials, approximately $66.5 million, in just 24 trading sessions.

Tuesday's closing level of 3,716,000 is marginally above the pre-closure level. Analysts have previously cautioned that nominal TEDPIX gains in Iran often reflect currency devaluation and inflation rather than real investment growth. The TSE extended trading hours by one hour on Tuesday to give listed companies additional time to disclose war-related financial information.

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The more than 40 tickers still suspended represent the direct financial footprint of the conflict on Iran's listed sector. Industrial sectors including petrochemicals, mining, and steel suffered operational disruptions during the fighting. These companies are required to disclose their financial position and war-related damages before their shares can resume trading. The extended trading hours introduced on Tuesday and Wednesday are specifically to facilitate this disclosure process.