THE STATE AND FUNCTIONING OF THE UKRAINIAN STOCK MARKET UNDER MARTIAL LAW CONDITIONS

Introduction. The Ukrainian stock market is relatively young and dynamic, having experienced both periods of rapid growth and deep declines in its short history. Despite numerous challenges, it remains an important component of the country's economy, offering companies sources of capital and investors tools for portfolio diversification. Purpose. The Ukrainian stock market, relatively young and dynamic, has experienced both periods of rapid growth and deep declines in its short history. Despite numerous challenges, it remains an important component of the country's economy, offering companies sources of capital and investors tools for portfolio diversification. Materials and methods. As of the beginning of 2024, the market shows signs of gradual recovery following the downturn caused by the Russian Federation's invasion in 2022. However, it exhibits certain characteristics that make it complex yet promising for investment. The overall market capitalization is relatively small, making it sensitive to price fluctuations and external factors. A limited number of market issuers represent shares of a relatively small number of companies, mainly from traditional sectors. Liquidity for some stocks remains low, complicating their quick sale at fair prices. The market operates under the supervision of the regulator, the National Securities and Stock Market Commission (NSSMC), along with its participants: issuers, investors, exchanges, depositories, and brokerage firms. Results. The Ukrainian stock market is a dynamic and promising market that may interest experienced investors willing to take informed risks. Research has shown that the Ukrainian stock market has significant potential for development but also carries certain risks. On one hand, there is an increase in market capitalization, the number of issuers and investors, and the emergence of new instruments and products. This indicates that the Ukrainian stock market is becoming increasingly attractive for investment. On the other hand, significant factors affecting market dynamics include geopolitical instability, imperfect legislation, and a low level of financial literacy among the population. Discussion. Investing in the Ukrainian stock market can potentially offer benefits such as the opportunity for high returns, portfolio diversification, and access to a growing economy. However, it's important to be aware of the risks associated with political and economic instability, market volatility, and liquidity risk. It's worth noting that these research findings serve as a starting point for further exploration of the topic. Conducting additional research and analyzing more data is necessary for a deeper analysis.