TITLE

The Impact of the Developed World on the Indian Industrial Portfolios' Return: Empirical Evidence

AUTHOR(S)
Garg, Ashish; Chauhan, Ajay
PUB. DATE
January 2012
SOURCE
IUP Journal of Applied Finance;Jan2012, Vol. 18 Issue 1, p35
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The paper examines the impact of the developed world market on the Indian industrial portfolios' return by taking returns of Dow Jones Index and Morgan Stanley Composite Index (MSCI) as representatives of the developed world markets' returns, and returns of various sectoral indices, constructed by Bombay Stock Exchange (BSE), as representatives of the Indian industrial portfolios' return. For the purpose, a set of parametrical and econometric tests are employed on daily data, from January 2000 to December 2009. The findings show that auto, metal, banking, healthcare, technology and real estate are the most affected sectors by the US market and developed world markets. The study also reveals that the Indian markets also influence the developed world markets.
ACCESSION #
75242512

 

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