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

Author

Listed:
  • Priyanka Aggarwal

    (Prince Sultan University, Riyadh, KSA,)

  • Najia Saqib

    (Prince Sultan University, Riyadh, KSA.)

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.

Suggested Citation

  • Priyanka Aggarwal & Najia Saqib, 2017. "Impact of Macro Economic Variables of India and USA on Indian Stock Market," International Journal of Economics and Financial Issues, Econjournals, vol. 7(4), pages 10-14.
    • Handle: RePEc:eco:journ1:2017-04-02
    as

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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Macroeconomics Variables; Stock Prices; Gross Domestic Product; Gold Prices; Whole Sale Price Index;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts

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