Effect of COVID-19 on Indian Stock Market

COVID-19 and Indian Stock Market


  • Akshay Singh Amity Business School, Amity University Patna, India.
  • Rohit Kumar Amity Business School, Amity University Patna, India.
  • Ruchi Shukla Amity Business School, Amity University Patna, India.
  • Murugan Batumalai Faculty of Business and Accountancy, Lincoln University College, Malaysia.




Proxy; Time Series; Sentiments; Vital.


Coronavirus disease popularly known as COVID-19 is a newly introduced disease caused by a virus which is named after the family of Corona viruses. Most common symptom to which is mild to moderate respiratory problems. The effect can be seen all around us. Even stock markets across the world have been affected by it. This study attempts to measure the effect of COVID-19 on the Indian stock market. time series analysis is adopted to understand the effect of COVID-19 on Indian stock market using confirmed recovered and deceased cases of COVID-19, as proxy of COVID-19. This study uses secondary data for time series from 30/01/2020 to 24/04/2020. Finding of the study shows a relationship between COVID-19 confirmed, recovered, and deceased cases and the fluctuations of Indian stock market. The study so conducted has showed, that the sentiments of investors plays a vital role in fall and rise of trading indices and hence the return from the market.


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How to Cite

Singh, A., Kumar, R., Shukla, R., & Batumalai, M. (2020). Effect of COVID-19 on Indian Stock Market: COVID-19 and Indian Stock Market. Advancement in Management and Technology (AMT) , 1(2), 30-36. https://doi.org/10.46977/apjmt.2020v01i02.005