Stock Markets in Changing Times: A Study of Select Global Market Indices and Indian Banks

Meru Sehgal and Shruti Gupta
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Meru Sehgal: GGDSD College, Chandigarh, India
Shruti Gupta: Panjab University, Chandigarh, India

International Journal of Business Analytics (IJBAN), 2021, vol. 8, issue 3, 14-25

Abstract: The impact of COVID-19 on the stock markets of US, UK, and India has been analyzed. Daily market returns of the stock indices (Dow Jones Industrial Average, FTSE-100, Nifty 50 Index, and Nifty Bank Index) have been examined using paired t-test for 40 days before and after the reporting of the first case. Index performance has also been investigated for the quarter ending June 2020 along with comparative performance analysis of the indices with Nifty Bank Index. The results showed that markets have borne substantially negative returns, but they are not statistically significant. This indicates the resilience of these markets to restore to previous index levels after taking a short-term hit. This paper adds value to the literature by acting as a resource for academia as well as industry by spelling out changes in markets during this pandemic and supporting evidence from Indian banks that are catalysts of growth for businesses in uncertain times.

Date: 2021
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