Impact of Macro Economic Variables of India and USA on Indian Stock Market

Priyanka Aggarwal and Najia Saqib
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Priyanka Aggarwal: Prince Sultan University, Riyadh, KSA,
Najia Saqib: Prince Sultan University, Riyadh, KSA.

International Journal of Economics and Financial Issues, 2017, vol. 7, issue 4, 10-14

Abstract: The key objective of the present study is to investigate the impact of changes in selected macroeconomic variables on Indian stock market (Nifty 50 index). To estimate the relationship, multivariate regression model computed on standard ordinary linear square method have been used. The time period examined is 2001-2016 and all the tests are conducted based on monthly data. Based on estimated regression coefficients and t-statistics, it is found that nifty 50 index is significantly affected by US gross domestic product, S and P index, gold prices, Indian whole sale price index, its fiscal deficit, IPI and exchange rate.

Keywords: Macroeconomics Variables; Stock Prices; Gross Domestic Product; Gold Prices; Whole Sale Price Index (search for similar items in EconPapers)
JEL-codes: A1 E44 E52 J11 J16 (search for similar items in EconPapers)
Date: 2017
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