TEHRAN - The Tehran Stock 
Exchange’s benchmark index crossed the historic 6 million-point threshold for the first time on Saturday, August 22, after gaining more than 126,000 points by the midpoint of trading, as fresh liquidity continued to flow into the stock market.
The rally, which gathered momentum from the opening minutes of trading, extended the upward trend seen in recent days. The market had also experienced stronger demand and significant capital inflows over the previous week.
By mid-session, the Tehran Stock Exchange Price Index (TEDPIX) had risen 126,447 points, with its move above 6 million points emerging as the most significant development of the day.
The benchmark had been steadily approaching the milestone in previous sessions and entered the 5.9 million-point range during Wednesday’s trading.
Trading data indicated that Saturday’s gains were not confined to a small number of heavyweight stocks, with stronger demand across the broader market helping accelerate the index’s advance.
By the midpoint of trading, around 293,785 transactions had been recorded, while the value of trades exceeded 12 trillion tomans, indicating increased market activity and a stronger circulation of liquidity through equities.
One of the main factors behind the continuation of the rally has been the return of liquidity to the stock market.
Figures from last week showed that approximately 4.8 trillion tomans in net money from individual investors entered the market, suggesting that some retail investors are once again choosing equities as a destination for their capital.
Alongside the inflow of liquidity, gains in large-cap and index-heavy companies have played an important role in pushing TEDPIX above 6 million points.
In recent weeks, major companies across several industries have attracted increased buying interest, with stronger demand for these stocks having a direct impact on the benchmark index.
The market has also been influenced in recent months by factors including the exchange rate, inflation expectations, company valuations and expectations regarding corporate profitability.
Under these conditions, some investors believe many stocks still have room to rise, a view that could continue to support demand in the market.
Although crossing 6 million points represents a new numerical record, the level also constitutes an important psychological threshold for the market.
Historic levels often prompt some investors to take profits, potentially increasing selling pressure. As a result, the market could experience volatility or even a short-term correction after the initial breakout.
Capital market analysts generally view the 6 million-point level more as a psychological test for the market than as a definitive technical resistance level.
The key question in the coming days will therefore be whether TEDPIX can consolidate above the threshold or whether Saturday’s move proves to be a short-lived surge.
The answer will largely depend on whether inflows from individual investors continue, trading values remain elevated and the market is able to sustain current levels of demand.
Analysts say the short-term outlook for the market remains broadly positive, pointing to the trend of recent weeks, continued liquidity inflows and stronger demand as signs that upward momentum may persist.
However, the pace of the rally will also be important. Sharp and consecutive gains can increase the likelihood of profit-taking and additional selling pressure in the short term.
If TEDPIX manages to stabilize above 6 million points while liquidity continues to enter the market, the level could shift from a psychological resistance point into a new area of support, potentially paving the way for further gains.
Conversely, if retail inflows weaken or trading values decline significantly, the likelihood of a market correction or consolidation would increase.