Is the Indian Stock Exchange Immune to the COVID-19 Virus? An Empirical Investigation

• DOI: 10.5281/zenodo.8151527
• Publication Date: 2023-07-16
• Authors: Ashutosh Yadav; Deepak Kumar Behera
• Keywords: 2019-20 coronavirus outbreak

Abstract: This paper examines the impact of COVID-19 on the Indian stock market using daily data from March 23 2020 to November 30, 2021. The Autoregressive Distributed Lag (ARDL) Bound Cointegration Test shows no long-term negative impact of the epidemic on India's NIFTY 50 index. The error correction model corrects 92% of the long-run–short-run disparity. The study's findings may help manage healthcare crisis-related measures and stock market volatility. Keywords: Stock Market, Mutual Fund, Retail Participation, COVID-19, ARDL