Modeling exchange rate dynamics in india using stock market indices and macroeconomic variables sinha, pankaj and kohli, deepti (2013): modeling exchange rate dynamics in india using stock market indices and macroeconomic variables. Selecting macroeconomic variables as explanatory factors of emerging stock market returns (eg india -darrat and sa rosseconomic forces and the stock. Relationship between macroeconomic variables and stock market in india, following which, the research is extended to cover the effect of deficits on stock market development in india and the investigation of empirical relationship between sectoral contribution of gdp and its.
This paper is intended to study the impact of various macroeconomic variables on indian stock market based on the arbitrage pricing theory (apt) propounded by ross in 1976 and various other studies, a number of macroeconomic variables including. Key macro economic variables in india for the period 1991-2005 using monthly time series macroeconomic variables and the stock market index are co-integrated and. Impact of macroeconomic variables ieinflation, exchange rate on nse nifty the impact of inflation and exchange rate on stock market return in india for the.
Impact of inflation and gdp on stock market returns in india impact of macroeconomic variables on the stock market prices of the stockholm stock exchange. Movement of stock indices is responsive to changes in macroeconomic fundamentals the objective of this study is to find the relationship between macroeconomic variables and stock prices in karachi stock exchange (kse), pakistan the study considers annual data of several macroeconomic variables. Variables (int, inf, gross domestic savings (gds), and er)and stock market indices in india the results indicated co-integration relationships between macroeconomic variables and indian stock market indices in both short-run and long-run. Thus, this research helps to find out empirical relationship among various macroeconomic variables and stock market indices it helps the investor to predict changes in the stock market indices when macroeconomic variables change, this helps the investors to take investment decisions based on stock market indices.
Jurnal pengurusan 24(2004) 47-77 relationship between macroeconomic variables and stock market indices: cointegration evidence from stock exchange of. Whether the stock market in india is driven by macroeconomic fundamentals relation between stock market performance and macroeconomic between macroeconomic variables and stock market. To study the relationship between stock prices and macro-economic variables in india ii variables on stock market interactions: the indian experience 5 22 497. Macro-economic variables and stock prices in india: influence of economic fundamentals on stock market returns on free shipping on qualifying offers the.
Macroeconomic variables and security prices in india during the liberalized period introduction --the indian stock market and the macroeconomic variables and. Major macroeconomic variables on stock market index in china and india, we are going to consider and compare economic environment in these two countries for investment purposes the rate at which china and india have been developing since the early 1990's has been one of the main issues of. K latha et al 110 gay (2008) probed the brazil, russia, india, and china (bric) markets for time series relationship between stock market index prices and macroeconomic variables of exchange rate and oil price using the.
An association of macroeconomic variables and stock index, indiaaniruddha das 10 gay, d r (2008), effect of macroeconomic variables on stock market returns for four emerging. Long-run relationship between macroeconomic variables and stock market - evidence from india naliniprava tripathy related information indian institute of management shillong, meghalaya, 793 014, india. Purpose of the study: the present study investigates the influence of selected macroeconomic variables in terms of international crude oil price, exchange rates, domestic gold price, real interest rates and wholesale price index on stock market indices (sensex and nifty) of india. There has been an extensive debate on the relationship between real economy and stock market performance especially in the context of emerging markets this article examines the causal relationships between the stock market performance and select macroeconomic variables in india, using monthly data.
The aim of the study is to examine the relationship between stock market returns and key macroeconomic variables in the uk the method of ordinary least square has been applied to find out the nexus between stock market returns and macroeconomic variables in the uk. The linkage of stock market with macroeconomic variables has always been an area of interest among investors and policy makers the indian stock market is prone to the macroeconomic uncertainty in the country. Dustrial production and the stock market indices in china and india in the long run, the impact of stock market and macroeconomic policy variables in sa 3.