An Empirical Study on Impact of Crude Oil Price on The Movement of Indian Stock Market – with Special Reference to BSE500 AND NSE500

Abstract

The gift examination has been embraced to anlayse the impact of Crude Oil fee on the development of Indian economic alternate. At this cause Crude Oil price and lists of BSE500 and NSE500 are taken as elements. Information for the above factors are accumulated for a time of 14 years from 2004 to 2018 on consistent time table with absolute range of perceptions of 3740. The exam utilized enlightening insights, connection, relapse investigation, ADF unit root take a look at, Johansen co-coordination test and Granger causality test for studies. The examination positioned that Crude Oil value and the improvement of Indian economic change have essential excessive satisfactory courting and huge and low splendid impact on improvement of Indian securities trade, because severa variables are responsible for the development of economic trade, Crude Oil cost is one in each of them. Raw petroleum value, BSE500 and NSE500 had unit root during the exam time frame. The exam did not find out any co-turning into a member of connection amongst Crude Oil cost and Indian securities change at some stage in the research time frame. It is moreover verify that Crude Oil price did now not have granger purpose on Indian monetary alternate as a long way as BSE 500 and NSE 500 and Indian securities alternate likewise did no longer have granger motive on Crude Oil price at some point of the examination time body. It is reasoned that modifications in Crude Oil price have noteworthy effect on advertise development in India, but that effect isn't striking.