IDEAS home Printed from https://ideas.repec.org/a/ids/ijicbm/v29y2023i1p1-22.html
   My bibliography  Save this article

How do the sectoral indices react to COVID-19? Evidence from an emerging economy

Author

Listed:
  • Vineeta Kumari
  • Pradipta Banerjee
  • Dharen Kumar Pandey

Abstract

The study empirically examines the impact of the COVID-19 on different sectoral indices of the National Stock Exchange (India) using the event study method and a generalised autoregressive conditional heteroskedasticity (GARCH) model. We provide evidence of positive impacts on the auto, oil and gas, healthcare, and pharma sectors. While the bank, financial services, and private bank sectors are the most adversely impacted sectors, the PSU bank, media, and reality sectors are the least impacted, and the rest are moderately impacted sectors. The overall impact of COVID-19 was negative until the implementation of nationwide lockdowns and the announcement of stimulus packages. The GARCH results exhibit more substantial evidence for the negative impact of the pandemic on the FMCG, IT, metal, oil and gas, and PSU bank sectors. We also find a more favourable impact on FMCG, pharma, and healthcare sectors in India.

Suggested Citation

  • Vineeta Kumari & Pradipta Banerjee & Dharen Kumar Pandey, 2023. "How do the sectoral indices react to COVID-19? Evidence from an emerging economy," International Journal of Indian Culture and Business Management, Inderscience Enterprises Ltd, vol. 29(1), pages 1-22.
    • Handle: RePEc:ids:ijicbm:v:29:y:2023:i:1:p:1-22
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=130923
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijicbm:v:29:y:2023:i:1:p:1-22. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=235 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.