Intentional interference in the stock market / valuable shares in the non-valuable market

According to Tejarat News, the point by point inflation rate in different cost deciles fluctuates between 49% for the tenth decile and 66.7% for the first decile. The range of inflation changes in the main group “food, beverages and tobacco” is between 93.5% for the tenth decile and 83.8% for the first decile. The inflation gap between the first decile and the tenth decile also reached 17.7 percent in the point-to-point index, which shows an increase of 2.7 percent compared to the previous month (15 percent).

Bahman Fallah, a capital market expert, said in a conversation with Tejarat News: The reason for the stock market not reacting to inflation is due to the high risk environment of the capital market. Generally, inflation is correlated with most markets; But the capital market has many risks, such as systematic risks, and has not yet been able to adjust itself to inflation.

He continued: “As the stock market becomes more risky, capital outflow from the market will intensify.” From Erbihesht, we saw power cuts in industries, which will show itself in the reports of July, August and September.

This capital market expert explained: In the last two years, the capital market has not been able to cope with inflation and has moved behind all other markets during this period. Part of the backwardness of the stock market compared to other markets and inflation is due to the directive view and negative interventions of the officials in this market. These interventions include interference in monetary policies and industrial trends.

The weakest era of stock market management

Fallah Kurd further pointed to the head of the Stock Exchange Organization and said: We also have mismanagement in the capital market. If we want to have an evaluation of the current management of the stock exchange organization, we are facing the weakest management era in the organization. That is, the sum of these factors has made the market unable to support itself with inflation.

He emphasized: Also, as time passes since the 13th government, we see more liquidity leaving the stock market and entering parallel markets.

This capital market expert continued: Despite the existence of inflation and some kind of convergence between the markets, due to these risks, the stock market diverges. Finally, after investigations, it was found that this intervention is deliberate and planned. That is, who is the definitive operator of electricity for industries? How are export duties issued for steel? How can the government not control the interbank interest rate? How is interest on bank deposits not respected and banks pay one-year interest?

In the end, Fallah said: The lack of confidence in the stock market will eventually lead us to overreact in the capital market. Although stocks are valuable, the stock market is not.