scholarly journals An Investigation of the Macroeconomic Factors Affecting the Indian Stock Market

2018 ◽  
Vol 12 (2) ◽  
pp. 71-86 ◽  
Author(s):  
Pooja Misra
Keyword(s):  
Stock Market ◽  
Macroeconomic Factors ◽  
Factors Affecting ◽  
Indian Stock Market

Investors' preferences and the factors affecting investment in the Indian stock market: an industry view

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bhaskar Chhimwal ◽  
Varadraj Bapat ◽  
Sarthak Gaurav
Keyword(s):  
Stock Market ◽  
Random Effect ◽  
Investment Decisions ◽  
Macroeconomic Factors ◽  
Content Type ◽  
Factors Affecting ◽  
Large Numbers ◽  
Retail Investors ◽  
Service Oriented ◽  
Indian Stock Market

PurposeThe authors examine the industrywise investment preferences of foreign portfolio investors (FPIs), domestic institutional investors (DIIs) and retail investors in the Indian context. They also investigate the factors influencing their preferences.Design/methodology/approachUsing the quarterly shareholdings and returns data of the Indian market from March 31, 2009 to March 31, 2018, the authors employ analysis of variance to study investors' preferences and a random effect panel data model to examine the factors that influence these preferences.FindingsFPIs hold proportionally more stocks in service-oriented industries and large-cap firms, DIIs hold proportionally large numbers of shares in paper industries and retail investors hold proportionally more shares in chemicals and textiles. FPIs prefer stocks with a high export-to-sales ratio and firms registered on a foreign stock market. Domestic investors, especially retail investors, prefer small-cap stocks and firms whose operations require local knowledge. In addition, industry heterogeneity determines investment decisions. Firm-specific and macroeconomic factors that influence investment decisions differ across industries. Finally, government policies and reforms also play a key role in attracting investors.Practical implicationsPolicymakers can identify the key variables that influence investment, which can help direct and regulate investment in India and similar emerging markets.Originality/valueThis study fills a research gap by addressing how industry-level heterogeneity affects investors' preferences in terms of the industrywise preferences of different types of investors and the factors that influence their preferences.

Macroeconomic factors affecting the movement of Russian stock market indices

2019 ◽  
Vol 18 (12) ◽  
pp. 2255-2271
Author(s):  
M.Yu. Malkina ◽  
◽  
V.N. Ovchinnikov ◽  
Keyword(s):  
Stock Market ◽  
Macroeconomic Factors ◽  
Factors Affecting ◽  
Russian Stock Market

scholarly journals The Relationship between Macroeconomic Factors and Stock Market Indices Performances in Indian Stock Market

2018 ◽  
Vol 7 (4.36) ◽  
pp. 592
Author(s):  
D. Kinslin ◽  
V. P. Velmurugan
Keyword(s):  
Stock Market ◽  
Capital Market ◽  
Significant Finding ◽  
Macroeconomic Factors ◽  
Money Markets ◽  
Macroeconomic Variables ◽  
Indian Economy ◽  
Financing Costs ◽  
Indian Stock Market ◽  
The Relationship

This investigation endeavors in observationally testing the connection between macroeconomic variables and the exhibitions of two noteworthy Indian security advertise lists of BSE-sensex and NSE-clever. The yearly information of a few macroeconomic elements of FIIs net venture, trade rates, oil value, financing costs, swelling rates and gold rates from 1995-96 to 2014-15 are thought about and it attempts to uncover the most impact of these elements on the 'Stock files exhibitions' of the Indian securities exchange. In compatibility of this, the connection investigation and various relapse examination was utilized to contemplate the connection between the two chose security advertise files exhibitions and the six chose macroeconomic elements from the Indian economy. The significant finding is that macroeconomic elements impact securities exchange lists exhibitions in India. It is suggested that the usage of appropriate monetary approaches will be useful to money markets files and it will result in required development in the Indian capital market.   

Causal Relationship between Gold, Crude Oil & US Dollar Rates and S&P BSE 100 in India: An Experimental Study

2016 ◽  
Vol 6 (2) ◽  
Author(s):  
Suresh Gopal ◽  
Jothi Munusamy
Keyword(s):  
Stock Market ◽  
Crude Oil ◽  
Causal Relationship ◽  
Macroeconomic Factors ◽  
Research Software ◽  
Integration Test ◽  
Augmented Dickey Fuller ◽  
Causality Tests ◽  
Us Dollar ◽  
Indian Stock Market

In the present globalized business scenario, volatility in gold price, international crude oil price, and US Dollar exchange rate are likely to stimulate uncertainty in stock market conditions globally. The degree of uncertainty in stock market is high in the case of developing nations like India. Therefore, the study of causal relationship of gold, crude oil, and US Dollar rates with the stock market indices (S&P BSE 100) in India is more appropriate. The researchers have analyzed these macroeconomic variables along with the S&P BSE 100 with the help of econometric tools viz. Augmented Dickey-Fuller Test for Unit-Root, Johansen Co-Integration Test, Pairwise Granger Causality Tests, Vector Auto Regression Modeling, Variance Decomposition test, and Impulse responses analysis. The econometric research software called EVIEWS 6 was used to apply all those tools successfully. The result shows that there is a high impression in the Indian stock market due to the volatility happens in the described macroeconomic factors.

scholarly journals An Empirical Analysis of Impact of Macroeconomic Variables on Indian Stock Market

2019 ◽  
Vol 8 (3) ◽  
pp. 2033-2038
Keyword(s):  
Stock Market ◽  
Banking Sector ◽  
Research Work ◽  
Share Price ◽  
Macroeconomic Factors ◽  
Macroeconomic Variables ◽  
Repo Rate ◽  
Macroeconomic Determinants ◽  
Indian Stock Market ◽  
The Impact

This research paper, using monthly returns of macroeconomic variables, Nifty, and stock price from 3 sectors, examines the impact of macroeconomic determinants on Nifty and banking sector stocks from May 2009 to July 2018. The paper also analyses the granger cause between macroeconomic variables and Nifty; macroeconomic variables and Indian banking sector stocks. This paper also extends the research work in finding out the impact before and during Narendra Modi government. Johansen’s co-integration and granger causality tests were applied for this research work. The results of Johansen’s co-integration proved that there is a long relation between selected macroeconomic factors, i.e. bank rate, repo rate, and reverse repo rate, and Indian stock market and also on banking sector share price. There is granger cause before Modi Government and during Modi Government. It is concluded that, a positive significant relationship exists between macroeconomic determinants and Indian stock market.

The cyclical behavior of the IPO market: History and drivers

2021 ◽  
Vol 14 (2) ◽  
pp. 190-207
Author(s):  
Vladimir A. BELYAEV
Keyword(s):  
Stock Market ◽  
Initial Public Offerings ◽  
Initial Public Offering ◽  
Stock Exchange ◽  
Investor Sentiment ◽  
Market Dynamics ◽  
Positive Trend ◽  
Macroeconomic Factors ◽  
Factors Affecting ◽  
Public Offerings

Subject. The article considers the phenomenon of clustering in the initial public offering (IPO) market. Objectives. The aim is to perform a critical analysis of literature on the IPO market behavior and determine the optimal moment of company's listing on stock exchange. Methods. The study draws on analytical methods of information gathering and processing, as well as the comparative analysis. Results. The paper summarizes results of works by researchers on the IPO markets clustering, defines criteria for successful listing on stock exchange, unveils a number of factors affecting the market dynamics. It also determines possible ways and indicators to predict the onset of the "hot" market for initial public offerings. Conclusions. Macroeconomic factors and investor sentiment explain the clustering of IPO markets. Given that the waves in this market are of short-term nature, the macroeconomic performance is an inaccurate indicator, when predicting the onset of waves of initial public offerings, as opposed to investor sentiment. Indicators, like the reversal of the stock market from recession to growth, positive market dynamics for three months, and a period of low imputed volatility may serve as indicators of the imminent onset of a wave of initial public offerings. A successful IPO of a company operating in a particular industry may lead to an increase in the number of transactions of similar companies from this industry, provided that the stock market continues to show a positive trend during the period, which is necessary to get ready for an IPO.

The Effect of Macroeconomic Factors on Indian Stock Market: An Empirical Evidence

2017 ◽  
Vol 6 (1) ◽  
pp. 68-76 ◽  
Author(s):  
Syed Tabassum Sultana ◽  
Kuchuri Sneha Reddy
Keyword(s):  
Stock Market ◽  
Empirical Evidence ◽  
Macroeconomic Factors ◽  
Indian Stock Market

scholarly journals Waves of the IPO market: The history and emergence

2021 ◽  
Vol 26 (2) ◽  
pp. 158-169
Author(s):  
Vladimir A. BELYAEV
Keyword(s):  
Stock Market ◽  
Initial Public Offerings ◽  
Initial Public Offering ◽  
Stock Exchange ◽  
Investor Sentiment ◽  
Market Dynamics ◽  
Positive Trend ◽  
Macroeconomic Factors ◽  
Factors Affecting ◽  
Public Offerings

Subject. The article considers the phenomenon of clustering in the initial public offering (IPO) market. Objectives. The aim is to perform a critical analysis of literature on the IPO market behavior and determine the optimal moment of company's listing on stock exchange. Methods. The study draws on analytical methods of information gathering and processing, as well as the comparative analysis. Results. The paper summarizes results of works by researchers on the IPO markets clustering, defines criteria for successful listing on stock exchange, unveils a number of factors affecting the market dynamics. It also determines possible ways and indicators to predict the onset of the hot issue market for initial public offerings. Conclusions. Macroeconomic factors and investor sentiment explain the clustering of IPO markets. Given that the waves in this market are of short-term nature, the macroeconomic performance is an inaccurate indicator, when predicting the onset of waves of initial public offerings, as opposed to investor sentiment. Indicators, like the reversal of the stock market from recession to growth, positive market dynamics for three months, and a period of low imputed volatility may serve as indicators of the imminent onset of a wave of initial public offerings. A successful IPO of a company operating in a particular industry may lead to an increase in the number of transactions of similar companies from this industry, provided that the stock market continues to show a positive trend during the period, which is necessary to get ready for an IPO.

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