An Impact of Macroeconomic Indicators on the Indian stock market

Authors

  • Ms. Savitakumari O. Nagar Research Scholar, School of Commerce, Gujarat University, Ahmedabad and Assistant Professor, ITM University, Baroda
  • Dr. Chetana R. Marvadi Assistant Professor, School of Commerce, Gujarat University, Ahmedabad

DOI:

https://doi.org/10.31305/rrijm.2022.v07.i11.007

Keywords:

Macroeconomic Indicators, Nifty, Sensex, Multiple Regression Analysis

Abstract

This study examines the influence of macroeconomic variables on the performance of the Indian stock market from 1993–1994 to 2018–2019. The research objectives have been studied using a variety of Macroeconomic Indicators and Stock Market Indices (including GDP, Broad Money, Crude Oil Price, Current Deficit, and Foreign Exchange Reserve) and (respectively) Sensex and Nifty. The effect has been determined using multiple regression analysis. The findings indicate that both the foreign exchange reserve and the gross domestic product significantly affect the performance of the Indian stock market. NSE - Nifty responds favourably to increases in both GDP and foreign exchange reserves. So, increase in Gross Domestic Product and Foreign Exchange Reserve leads to increase in Nifty.

Author Biographies

Ms. Savitakumari O. Nagar , Research Scholar, School of Commerce, Gujarat University, Ahmedabad and Assistant Professor, ITM University, Baroda

Savita Nagar received her Bachelor of Commerce degree from Shri K.K. Shastri Government Commerce College, Gujarat University, Ahmedabad, Gujarat, India. Master of Commerce and Master of Philosophy are from Seth Damodardas School of Commerce, Gujarat University, India. She is pursuing in Ph.d (Accountancy and Finance) from Seth Damodardas School of Commerce, Gujarat University, India. She is currently working as an Assistant professor and Board of Studies in Management Department (MBA& BBA) ITM (SLS) Baroda University, Vadodara, and Gujarat, India. She has six years teaching experience, research and administration. She has qualified GSET, NET.

Dr. Chetana R. Marvadi , Assistant Professor, School of Commerce, Gujarat University, Ahmedabad

Dr. Chetana R. Marvadi has received her bachelor's, master's, and doctoral degrees from the Maharaja Sayajirao University. She has 17 years of experience in teaching and Research. She has published 35 Research papers in Peer reviewed, referred and UGC Care listed Journal. She is Assistant professor in Seth Damodardas School of Commerce, Gujarat University.

References

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Published

12-11-2022

How to Cite

Nagar, S., & Marvadi, C. R. (2022). An Impact of Macroeconomic Indicators on the Indian stock market. RESEARCH REVIEW International Journal of Multidisciplinary, 7(11), 29–34. https://doi.org/10.31305/rrijm.2022.v07.i11.007