Reaction of Indian Stock Market to Outbreak of COVID-19: An Empirical Analysis of Extreme Inter-day Movements

Simple item page
dc.contributor.authorSharma, Dhanraj
dc.contributor.authorVerma, Ruchita
dc.contributor.authorSam, Shiney
dc.contributor.authorSharma, Shubham
dc.date.accessioned2024-01-21T10:20:32Z
dc.date.accessioned2024-08-13T10:08:57Z
dc.date.available2024-01-21T10:20:32Z
dc.date.available2024-08-13T10:08:57Z
dc.date.issued2023-10-07T00:00:00
dc.description.abstractThe contagious COVID-19 pandemic has been considered a massive global crisis since World War II and has disturbed business and economic activities across the globe. The current study examined the reaction of the stock market�s to the outbreak of COVID-19, considering the extreme inter-day movements in the Indian stock market. The extreme inter-day movements in S&P CNX Nifty-50 have been identified during the study period from January 2020 to December 2021 and further classified into decline and gain events based on positive and negative announcements related to COVID-19. The study utilized an event study approach and panel regression for empirical investigation. The results of the event study analysis illustrate that the significant abnormal loss ranges from 12.86% to 2.47% for the major decline events and significant abnormal return from 8.43% to 3.23% for the gain events. The regression analysis results showed that real return and Central Bank Policy rate have a considerable impact on the abnormal returns during COVID-19. The study�s findings are helpful to policy implications that identified the need to focus on financial education and strengthen the health and finance-related policies to deal with such pandemics in the future. � 2023 MDI.en_US
dc.identifier.doi10.1177/09722629231185202
dc.identifier.issn9722629
dc.identifier.urihttps://kr.cup.edu.in/handle/32116/3072
dc.identifier.urlhttp://journals.sagepub.com/doi/10.1177/09722629231185202
dc.language.isoen_USen_US
dc.publisherSage Publications India Pvt. Ltden_US
dc.subjectCOVID-19en_US
dc.subjectEvent Studyen_US
dc.subjectInter-day Movementen_US
dc.subjectStock Marketen_US
dc.titleReaction of Indian Stock Market to Outbreak of COVID-19: An Empirical Analysis of Extreme Inter-day Movementsen_US
dc.title.journalVisionen_US
dc.typeArticleen_US
dc.type.accesstypeClosed Accessen_US

Files

Collections

Financial Administration - Research Publications