اقتصاد دنیا

The Statistics and Risk Analysis Group of the Securities and Exchange Organization, in two separate reports, has addressed the issues of "Study of fluctuation range and base volume in Tehran Stock Market and OTC" and "Assessing the possible impact of price range change (fluctuation range) on capital market fluctuations.”.

Tehran, February. 01 (SENA)-According to Securities and Exchange News Agency (Sena), in the report "Study of fluctuation range and base volume in Tehran Stock Market and OTC Iran", a comparative study and modeling of stock market microstructures has been done. In this report, by conducting comparative studies and examining the conventional mechanisms of controlling market fluctuations in the stock Markets of different countries, the Magnet Effect of the amplitude of fluctuations and changes in the base volume in the Tehran Stock Market and OTC Iran have been evaluated.

According to the results of this report, the Magnet Effect is observed in many stock Market and over-the-counter industries of the country, especially at the bottom of the price range. This issue is seen in the basic OTC market of Iran due to the more limited range of fluctuations, far more than the stock market and OTC markets. The report also emphasizes that increasing the base volume does not actually mean increasing the monitoring and control of volatility, and a change in the base volume has no effect on controlling stock price fluctuations. For this reason, it is better to consider the volume of the base, which is actually aimed at preventing price manipulation, rather than controlling market fluctuations.

Also, the Statistics and Risk Analysis Group of the Securities and  Exchange Organization in the report "Assessing the Possible Impact of Price Range (Fluctuation Range) on Capital Market Fluctuations" examines the impact of fluctuation amplitude reduction on "return", "risk" and "liquidity of symbols" in the period From March 2019 to December 2020.

The results of this study show that the reduction of the range of fluctuations in the past months could not prevent the occurrence of fluctuations in the market during the previous months. Therefore, based on the assumptions and categories made for the symbols, the more limited fluctuation range for the OTC market symbols group of Iran did not make a significant difference in the growth value of the market value of this group and the rate of decrease and increase of market value of this group The radius is not set. In addition, the more limited range of fluctuations for this group of symbols has not been able to significantly change the amount of losses to new investors (specifically stock buyers at the peak of prices) in the market. Other results of this report include the fact that the amplitude of the fluctuation is not more limited on the trend of monthly return fluctuations. The findings of this report in the form of risk analysis of the studied groups also show that the more limited range of fluctuations did not have a significant effect on the level of risk of different investment groups. On the other hand, this report examines the higher ratio of "base volume" to "total number of shares of the company", which according to the findings, this case did not have a significant effect on changing the return trend in the uptrend and downturn of the market.

Finally, it is emphasized that the application of controls and changes in microstructures requires pathology and monitoring of risks and ensuring their positive effectiveness. On the other hand, the Iranian capital market, which is an emerging and developing market, has reached maturity in some dimensions and is in the early stages of growth in some other dimensions. Therefore, controlling market fluctuations through any of the possible tools, including changing the range of fluctuations, requires strengthening and developing different dimensions of the stock market.

 

Comment

You are replying to: .
3 + 4 =

Latest of Capital Market