A Study on the Topological Insights and Network Visualization Mapping of the Indian Equity Market

Biplab Bhattacharjee and Moinak Maiti ()
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Biplab Bhattacharjee: Jindal Global Business School, O.P. Jindal Global University, Sonipat 131001, India
Moinak Maiti: Department of Finance, School of Economics and Finance, University of the Witwatersrand, Johannesburg 2050, South Africa

Risks, 2025, vol. 13, issue 4, 1-28

Abstract: The primary objective of this empirical study is to investigate the Indian equity market network by analyzing its topological properties using the disparity filtering technique, and a minimum spanning tree. It investigates the backbone structure of the reduced weighted equity network and highlights the sector-based cluster formation. This study also examines the relative importance of each sector by utilizing different key network metrics, with comparative analysis against other emerging markets. It observes a high sector-specific dominance, power imbalance, disparity, and risk concentration in the healthcare and technology sectors. It also finds that fast-moving consumer goods and the healthcare sector can play important roles in maintaining economic stability, public health, and social wellbeing. The findings of this study are highly useful in understanding the market structure, risk management, and investment decisions in the emerging market context of India.

Keywords: equity market; disparity; financial networks; temporal dynamics (search for similar items in EconPapers)
JEL-codes: C G0 G1 G2 G3 K2 M2 M4 (search for similar items in EconPapers)
Date: 2025
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