Abstract – AOCRJ-V2I3P5

Relationships between Commodity Market Indicators and
Stock Market Index-an Evidence of Indian

Dr. Amalendu Bhunia,
University of Kalyani, West Bengal, India

Abstract:
The present paper explores the relationships between two commodity market indicators and stock market in India using daily time series data of 2nd January 1991 – 31st December 2012 comprising 5321 observations in the midst of employing Johansen co integration approach and Granger causality method. During the last two decades, both crude oil price and gold price (except 1997-2001) have been increased continuously owing to the panic of the international crises, rupee depreciation, increase in inflation rate, Indian political instability, world economic situation, safe haven in case of gold etc., stock market affected significantly. Indian investors are demonstrating uncase in the stock markets due to continuous rising of gold prices on account of no fear and no future loss. Empirical result points out that there is a presence of steady association between the commodity indicators and stock market index (sensex) in the long-run. This research also shows that there must be either bidirectional or no causality among the variables.

Key Words: World crude index, Indian gold price, sensex, multivariate co integration test, pair wise causality test

Full Text (PDF)

open access logo

Courtesy Peter Suber

Volume 5

         Issue III
         Issue II
         Issue I

Volume 4

         Issue IV
         Issue III
         Issue II
         Issue I

Volume 3

         Issue IV
         Issue III
         Issue II
         Issue I

Volume 2

         Issue IV
         Issue III
         Issue II
         Issue I

Volume 1

           Issue I

Strategic Partners

Universities and Libraries

                           

Conference Partners

           

Feel free to contact : contact@aocrj.org

Publisher: Research Centre of Resource Mentors (RCRM), Pakistan.

Address: 604 Q Block Model Town, Lahore, Pakistan
ISSN; 2305-865X