alexa Indian Stock market and Aggregate macroeconomic variables: Time Series Analysis
Business & Management

Business & Management

Journal of Stock & Forex Trading

Author(s): Mohanamani P, T Sivagnanasithi

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This study investigates the impact of macroeconomic variables on the behaviour of Indian Stock market . Monthly data about six macro economic variables such as BSE Sensex, Call Money rate, Exchange rate between Indian Rupees and US dollar, Foreign Institutional Investment, Industrial productivity, money supply and whole sale price index over the period 2006:04 to 2013:07 has been taken for study. Descriptive Statistics, Pearson’s corre lation matrix, Unit root test and Granger Causality tests have been applied to test the relationship between stock market and the above mentioned macroeconomic variables. The analysis reveals that Indian stock market is positively whole sale price index, m oney supply and industrial productivity. The exchange rate and inflow of foreign institutional investment are found to be insignificant to Indian Stock market. In the Granger Causality sense, whole sale price index and industrial productivity influence the stock market to a great extent.

  • Open Access
This article was published in IOSR Journal of Economics and Finance and referenced in Journal of Stock & Forex Trading

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