Purpose: The spread of the Covid-19 virus in the last few years has imposed very harmful effects on the world's economies, and this disease has also had destructive effects on various economic sectors, including the important economic sectors that have been affected by the spread of the Covid-19 disease, the stock market According to the mentioned article, the aim of the current research is to investigate the impact of the outbreak of the disease of Covid-19 on the stock returns and the index of the whole stock market of Iran.
Materials and Methods: In this research, the first group includes all the observations of covid-19 cases in the whole country in the daily time period from March 1, 2020 to June 21, 2021, and the second group includes all the observations of the Tehran securities market in the pharmaceutical, cement, There are medical, optical and measuring instruments, hotels and restaurants, automobiles and petrochemicals. Considering the advantages of the panel data method and the type of information used in this study, descriptive and inferential statistics such as variable graphs, distribution graphs, and correlation coefficients were used first, and the computational and analytical parts of this study were done using panel data methods. It was done using Eviews software.
Findings: The results showed that the number of people infected with Covid-19 and the number of deaths had a negative and significant impact on stock returns and the total market index of the Tehran Stock Exchange, and the exchange rate also had a direct and significant impact. It has had an effect on the yield and the total index, and the rate of return has also led to an increase in the total index. On the other hand, the ratio of stock price to book value (P/B) has a direct effect on the yield and has a negative effect on the overall index. In addition, the stock value has a direct effect on the stock yield and the overall index of the stock market.
Conclusion: The spread of the Covid-19 virus and the increase in the number of patients and deaths caused by it have a negative effect on the stock returns and also on the total index of the Tehran stock market. Since the Iranian stock market has grown relatively well in the last few years and can play a very important and effective role in financing manufacturing companies, on this basis, protecting this market and reducing the negative effects of the crisis and pandemic Covid-19 is a macroeconomic and social policy.