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Stock Market Reaction To Outbreak Of Covid-19: An Empirical Study Of Indian Sectoral Indices

Author

Listed:
  • Ruchita Verma

    (Central University of Punjab, India)

  • Dhanraj Sharma

    (Central University of Punjab, India)

  • Pranav Raghavan

    (Central University of Punjab, India)

Abstract

The study examines COVID-19’s effect on the Indian stock market. According to the study’s findings, the pandemic significantly smashed Indian sectoral indices. The highest abnormal loss is observed in the Private Bank Index (-14.62 per cent) and the lowest in the Pharma Index (-6 per cent). The results of panel regression analysis depict that real return, profitability, and size have a substantial impact on the abnormal returns of the sectoral indices. The findings provide valuable insights to policymakers, to navigate market volatility and develop effective risk management strategies during pandemic.

Suggested Citation

  • Ruchita Verma & Dhanraj Sharma & Pranav Raghavan, 2025. "Stock Market Reaction To Outbreak Of Covid-19: An Empirical Study Of Indian Sectoral Indices," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 28(3), pages 389-414, October.
    • Handle: RePEc:idn:journl:v:28:y:2025:i:3d:p:389-414
    DOI: https://doi.org/10.59091/2460-9196.2376
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    Keywords

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    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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