Relationship Between Macroeconomic Variables and Stock Market Index: a Comparative Study Between India and the United Kingdom

Author(s)	A. Sai Jahnavi, K. V. Geetha Devi
Country	India
Abstract	The stock market plays a crucial role in the context of economic development of any country. To examine the impact of various independent factors such as currency fluctuation (in context with USD), Interest rate and Inflation on the Stock Indices of India and UK. The study has been conducted for a period of 9 years i.e., April 2014 to March 2023. Techniques like Unit Root test, VAR, Cointegration test, Granger Causality test, Correlation and Regression are used to study the causality relationship and impact of macroeconomic variables between two nations. The results show that there is a unidirectional relationship between Nifty 50 and exchange rate, interest rates of India; FTSE 100 and interest rates of UK.
Keywords	Inflation rate, Exchange rate, Interest rate, Nifty 50, FTSE 100
Field	Sociology > Administration / Law / Management
Published In	Volume 5, Issue 3, May-June 2023
Published On	2023-06-25
Cite This	Relationship Between Macroeconomic Variables and Stock Market Index: a Comparative Study Between India and the United Kingdom - A. Sai Jahnavi, K. V. Geetha Devi - IJFMR Volume 5, Issue 3, May-June 2023. DOI 10.36948/ijfmr.2023.v05i03.3990
DOI	https://doi.org/10.36948/ijfmr.2023.v05i03.3990
Short DOI	https://doi.org/gsdk6c

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