Arseam

International Journal of Human Resource & Industrial Research

Macro Economic Indicators and Stock Market in India

Dr. Kajal Gandhi

Dr. Kajal Gandhi, Assistant Professor, Department of Commerce, Shri Shikshayatan College, Kolkata, India

DOI : http://doi.org/10.5281/zenodo.14912285 Page No : 44-50

Published Online : 2022-06-30

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The relationship between macro-economic indicators and stock market performance is critical for understanding the dynamics of an economy. In India, with its burgeoning market and fluctuating economic conditions, this relationship has gained prominence. This research aims to explore the influence of key macro-economic indicators such as GDP growth, inflation, interest rates, exchange rates, and fiscal policy on the Indian stock market during 2022. By employing trend analysis and statistical tools, the study attempts to identify patterns and correlations between economic indicators and stock market performance. The results indicate a significant relationship between economic health and market behavior, with inflation and interest rates being the most influential factors in shaping stock market performance.

Keywords: Stock market, GDP, Financial trends and Macro-economic

References

Brealey, R. A., Myers, S. C., & Allen, F. (2020). Principles of Corporate Finance (13th ed.). McGraw-Hill Education.
Shiller, R. J. (2015). Irrational Exuberance. Princeton University Press.
Kumar, S., & Sharma, R. (2021). "Inflation and Interest Rates: A Study on Indian Stock Market."Indian Economic Journal, 68(4), 123-145.
Gupta, P., & Agarwal, S. (2019). "Stock Market Response to Government Policies in India."Journal of Indian Economy, 44(2), 67-80.
Sundaram, D., & Vaidyanathan, G. (2020). "Exchange Rate Volatility and Stock Market Performance in India."Journal of International Finance, 34(1), 45-58.
Sharma, A., & Reddy, P. (2021). "Fiscal Deficit and Stock Market Behavior in India."Economic and Political Weekly, 56(32), 56-60.
Khan, M. R., & Gupta, N. (2018)."Impact of Macroeconomic Factors on Stock Market Returns in India."Indian Journal of Economics and Business, 17(3), 101-112.
Chaudhuri, K., & Ghosh, S. (2020)."The Role of Inflation and Interest Rates in Stock Market Performance: Evidence from India."Journal of Financial Economics, 23(4), 84-98.
Rao, D. S. P. (2019)."The Dynamics of Exchange Rate Movements and Stock Market Returns: Evidence from India."The Journal of Emerging Market Finance, 18(2), 67-81.
Patel, A. D., & Shah, A. R. (2021)."Monetary Policy, Inflation, and Indian Stock Market: A Sectoral Analysis."International Journal of Economics and Finance, 13(5), 34-45.
Narayan, P. K., & Smyth, R. (2016)."Macroeconomic Factors and Stock Market Returns: Evidence from India."Applied Economics, 48(17), 1605-1616.
Reddy, Y. V. (2017)."Macroeconomic Policies and Financial Markets in India."Economic and Political Weekly, 52(18), 26-29.
Vohra, R., & Bhardwaj, G. (2021)."Impact of Fiscal Deficit on the Indian Stock Market: A Panel Data Approach."Asia-Pacific Journal of Business Economics, 12(1), 54-65.
Singh, R., & Yadav, S. (2022)."Government Policies and Stock Market Reactions: An Empirical Study of India."Financial Economics Review, 15(2), 89-101.
Chakraborty, S., & Sahu, M. (2018)."Stock Market and Macroeconomic Variables: A Cointegration Analysis of Indian Stock Market."International Journal of Financial Studies, 6(1), 12-22.
Ravi, S., & Banerjee, S. (2019)."Interest Rate Changes and Stock Market Performance: Evidence from India."Journal of Business Finance & Accounting, 46(8), 1073-1095.

Gandhi K. (2022), “Macro Economic Indicators and Stock Market in India”, International Journal of Human Resource & Industrial Research, Volume 9, Issue 1, 2022, pp 35-41 DOI : http://doi.org/10.5281/zenodo.14912285

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References

Brealey, R. A., Myers, S. C., & Allen, F. (2020). Principles of Corporate Finance (13th ed.). McGraw-Hill Education.
Shiller, R. J. (2015). Irrational Exuberance. Princeton University Press.
Kumar, S., & Sharma, R. (2021). "Inflation and Interest Rates: A Study on Indian Stock Market."Indian Economic Journal, 68(4), 123-145.
Gupta, P., & Agarwal, S. (2019). "Stock Market Response to Government Policies in India."Journal of Indian Economy, 44(2), 67-80.
Sundaram, D., & Vaidyanathan, G. (2020). "Exchange Rate Volatility and Stock Market Performance in India."Journal of International Finance, 34(1), 45-58.
Sharma, A., & Reddy, P. (2021). "Fiscal Deficit and Stock Market Behavior in India."Economic and Political Weekly, 56(32), 56-60.
Khan, M. R., & Gupta, N. (2018)."Impact of Macroeconomic Factors on Stock Market Returns in India."Indian Journal of Economics and Business, 17(3), 101-112.
Chaudhuri, K., & Ghosh, S. (2020)."The Role of Inflation and Interest Rates in Stock Market Performance: Evidence from India."Journal of Financial Economics, 23(4), 84-98.
Rao, D. S. P. (2019)."The Dynamics of Exchange Rate Movements and Stock Market Returns: Evidence from India."The Journal of Emerging Market Finance, 18(2), 67-81.
Patel, A. D., & Shah, A. R. (2021)."Monetary Policy, Inflation, and Indian Stock Market: A Sectoral Analysis."International Journal of Economics and Finance, 13(5), 34-45.
Narayan, P. K., & Smyth, R. (2016)."Macroeconomic Factors and Stock Market Returns: Evidence from India."Applied Economics, 48(17), 1605-1616.
Reddy, Y. V. (2017)."Macroeconomic Policies and Financial Markets in India."Economic and Political Weekly, 52(18), 26-29.
Vohra, R., & Bhardwaj, G. (2021)."Impact of Fiscal Deficit on the Indian Stock Market: A Panel Data Approach."Asia-Pacific Journal of Business Economics, 12(1), 54-65.
Singh, R., & Yadav, S. (2022)."Government Policies and Stock Market Reactions: An Empirical Study of India."Financial Economics Review, 15(2), 89-101.
Chakraborty, S., & Sahu, M. (2018)."Stock Market and Macroeconomic Variables: A Cointegration Analysis of Indian Stock Market."International Journal of Financial Studies, 6(1), 12-22.
Ravi, S., & Banerjee, S. (2019)."Interest Rate Changes and Stock Market Performance: Evidence from India."Journal of Business Finance & Accounting, 46(8), 1073-1095.

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