Tehran Stock Exchange’s main index (TEDPIX) surged 49,142 points, or 2.15%, on November 24, closing at 2,331,000—the highest level since mid-April on the back of renewed talks with the incoming Trump administration.

This rally is attributed to easing geopolitical tensions, speculation about direct negotiations with the US and EU, following the election of US President Donald Trump and private discussions with the world's richest man Elon Musk in recent days. 

The NIMA exchange rate climbed 0.36%, reaching IRR 515,000 per US dollar. Analysts predict that further increases in the exchange rate could enhance market performance by boosting nominal corporate profits and stock valuations.

“The market’s bullish momentum on Sunday was primarily driven by reduced fears of regional military tensions and Trump’s election victory, which investors believe will lead to a stronger US dollar,” Behnam Azimvand, a market analyst, told EconoIran.

“Higher dollar rates typically enhance corporate earnings, making equities more attractive. The gradual rise of the NIMA exchange rate further supports this trend,” Azimvand added.

Political developments, including reduced military risks in the region and the re-election of Donald Trump in the US presidential race, provided additional support to market sentiment. Investors expect these developments to boost the value of the US dollar and, in turn, improve corporate profitability.

The equal-weighted index also posted notable gains, rising 1.093% to close at 741,000.

Key contributors to the TEDPIX surge included Fars Petrochemical Company, National Iranian Copper Industries Company, Foolad Mobarakeh Steel Company, and Social Security Investment Company.

The trading session recorded 315,000 transactions valued at IRR 119 trillion ($285mn). Retail investors showed strong engagement, with net inflows of IRR 1 trillion ($2.4mn), while the total value of retail trades reached IRR 7.675 trillion ($18.4mn).

The automotive sector led in trading volume, followed by the basic metals group, which attracted significant investor interest. Overall, 658 stocks closed in positive territory, while 57 stocks ended in the red.

The over-the-counter market reflected optimism, as the Iran Fara Bourse main index gained 1.69%, closing at 22,847 points.

Outside the official markets, the so-called "street rate" dollar exchange rate has also cooled recently, with one dollar now reaching IRR692,000, while the euro and pound sterling IRR721,000 and IRR867,000, late on October 24. 

Late on October 24, the deputy chairman of the Iranian National Security and Foreign Policy Commission of the Parliament said: "In the upcoming negotiations, we are in a position where we can even dictate our terms."

Abbas Moqtadai explained regional issues, Lebanon, and nuclear matters in a special news interview with ISNA. "Our capabilities in the defence sector are obvious. In the upcoming negotiations, we are in a position where we can even dictate our terms."

The deputy chairman of the National Security and Foreign Policy Commission of the Parliament added: "It is predicted that a wide range of issues will be formed in the upcoming negotiations."