TSE's main index TEDPIX surged 4,414.07 points or 3.78% on Tuesday to end trading at 121,173.6.
This is while Iran Fara Bourse’s main index, IFX, gained 57.58 points or 4.31% to close at 1,394.74. The smaller exchange's index is also at its highest ever.
A total of 1.29 billion shares valued at $83.5 million changed hands at TSE on Tuesday, as IFB saw the trading of about 420.4 million securities valued at $74.7 million, Financial Tribune reported.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends on Wednesday.
The driving force behind Tuesday's growth seems to be the same thing that ignited the rally earlier in the week: the prospect of large exporters entering the secondary foreign exchange market.
The news first surfaced on Saturday that the Money and Credit Council decided to limit the 42,000-rial USD to imports of essential goods and medicines, and channel all FX earnings from non-oil exports to the secondary market.
Abdolnasser Hemmati, the newly-appointed governor of the Central Bank of Iran, has announced devising a plan to control the raging forex market, which he will unveil "in the coming days".
Also on Monday, First Vice President Es'haq Jahangiri assured that a new FX package is being prepared and promised that the prevailing market conditions are not going to be permanent.
Officials' indirect affirmations are welcome, but the stocks' rally shows that the market is wholeheartedly invested in the FX change happening. This is also evident in the deluge of local articles published on Monday and Tuesday in support of the move.
Economists, market analysts and investors addressed the government in interviews and op-eds to push ahead with the change and keep equities at the center of its attention.
> Daily Trade in Detail
Pegah Khorasan Dairy Company was the biggest riser at TSE on Tuesday, going up 10.72% to 3,222 rials per share. Khazar Cement Company, on the other hand, incurred the biggest loss among all TSE-listed companies and went down 9.53% to 3,011 rials per share.
Persian Gulf Petrochemical Industries Company gave the biggest boost to TEDPIX, followed by Mobarakeh Steel Company and National Iranian Copper Industries Company.
Yet Bank Tejarat was the biggest laggard behind the benchmark's fall, followed by the Islamic Republic of Iran Shipping Lines Company and Informatics Services Company.
The Price Index gained 1,294 points to close at 35,530.9.
The First Market Index surged 3,286.99 points to post 88,676.6.
The Second Market Index jumped 8,624.34 points to reach 244,164.3.
The Industry Index gathered 4,171.38 points to register 110,422.4.
The Free Float Index won 4,644.06 points to hit 130,673.41.
The TSE 30 was up 254.70 point to settle at 5,988 and the TSE 50 ended 197.36 points higher to finish at 5,216.8.
As for IFB, Middle East Mines and Mining Industries Development Holding Company had the highest number of traded shares, as 30.49 million of its shares changed hands. Sarcheshmeh Copper Investment Company accounted for the highest trade value, as $3.28 million worth of its shares were traded.
Rishmac Company, Shahrkord Dairy and Meat Company and Iran Cultural Heritage and Tourism Investment Group registered the highest value increase. On the other hand, Bank Day, Saman Insurance and Khazar Shipping Company suffered the biggest decline.
Marun Petrochemical Company, Zagros Petrochemical Company and Middle East Mines and Mining Industries Development Holding Company had the most positive impact on IFX.