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Which Matters the Most for the Trading Index? (Law and Order or Weather Conditions)

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  • Hasan, Syed Akif
  • Subhani, Muhammad Imtiaz

Abstract

Stock Markets are the indicators of economic activity taking place in an economy. There are multiple factors that can affect the performance of a Stock market. Besides the economical factors, the human behavior, the mood, willingness to pay and consumption patterns of people also plays an important role and affect the performance of a stock market. It has been empirically proven that human behavior is enormously and strongly influenced by the various weather conditions and law and order situation of the territory. This study investigates the effect of various weather conditions and law and order situation of Karachi on Karachi Stock Exchange trading volume. The daily data which includes various weather conditions, law and order situations of the city and the trading volume of Karachi Stock exchange for the period from January 1995 to December 2010 has been tested. The study found that there is a significant impact of law and order situation on Karachi Stock Exchange trading volume, and likewise, weather conditions also regulate the performance of Karachi Stock Exchange most often. Temperature is a very significant driving factor in impacting the trading volume of Karachi Stock Exchange whereas, Humidity and Sea Level Pressure also has a significant impact on KSE performance.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 34736.

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Date of creation: 2011
Date of revision: 2011
Handle: RePEc:pra:mprapa:34736

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Keywords: Trading Volume; Weather Conditions; Law and Order Situations; Karachi Stock exchange;

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  1. Symeonidis, Lazaros & Daskalakis, George & Markellos, Raphael N., 2010. "Does the weather affect stock market volatility?," Finance Research Letters, Elsevier, vol. 7(4), pages 214-223, December.
  2. repec:ebl:ecbull:v:3:y:2008:i:34:p:1-12 is not listed on IDEAS
  3. Michael Dowling & Brian Lucey, 2008. "Mood and UK equity pricing," Applied Financial Economics Letters, Taylor and Francis Journals, vol. 4(4), pages 233-240.
  4. Subhani, Muhammad Imtiaz & Osman, Ms. Amber, 2011. "Stock Market Reactions due to Announcements of Consumer Price Index and the Investigation of Endogeneity," MPRA Paper 34725, University Library of Munich, Germany.
  5. Saunders, Edward M, Jr, 1993. "Stock Prices and Wall Street Weather," American Economic Review, American Economic Association, vol. 83(5), pages 1337-45, December.
  6. Subhani, Muhammad Imtiaz & Osman, Ms. Amber & Lakhiya, Zubair, 2011. "The Structure and Performance of Economy of Pakistan (Comparative Study between Democratic and Non-Democratic Governments)," MPRA Paper 34732, University Library of Munich, Germany, revised 2011.
  7. Kang, Sang Hoon & Jiang, Zhuhua & Lee, Yeonjeong & Yoon, Seong-Min, 2010. "Weather effects on the returns and volatility of the Shanghai stock market," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(1), pages 91-99.
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