000			nam a22 4500
999			_c48241 _d48241
003			OSt
005			20170918172921.0
008			170918b xxu||||| |||| 00| 0 eng d
100			_aKumar, Parul _927489
245			_aAn Empirical Analysis of the Relationship Between FPI and Nifty Returns
300			_a7-24 p.
520			_aThis study is an attempt to evaluate and analyze the relationship between Foreign Portfolio Investors (FPIs) and the Indian stock market returns. With the stable economy, better growth prospects, liberal government policies and many more profitable opportunities, India has become a hot destination for FPI investments. Thus there is a need to study the impact of these investments on the market returns. Daily data of foreign net investment and Nifty returns, for the period starting from April 2004 to December 2015, has been used for evaluating the presence of feedback trading among the foreign investors. Vector autoregression and Granger causality have been used to test the presence of feedback trading hypothesis and establish the cause and effect relationship among the variables. The results suggest that FPIs are influenced by the Nifty returns but the opposite relationship does not hold. Also it is found that feedback trading is present in the short run with FPI getting influenced even by the Nifty's last 12 days returns. As the frequency of the data is changed to monthly, the feedback trading hypothesis does not hold true. In other words, it can be said that FPIs' net investment is positively influenced by Nifty returns.
653			_aEmerging markets
653			_aSecurities markets
653			_aStudies
653			_aStock exchanges
653			_aVolatility
653			_aForeign investment
700			_aGupta, Sunil K _927490
700			_aSharma, R K _927491
773	0		_030428 _966509 _aMURTHY, E N _dIUP PUBLICATION HYDERABAD _o5557553 _tAPPLIED ECONOMICS
856			_3July 2017 Vol XVI No. 3 _uhttps://search.proquest.com/docview/1926895794/fulltext/940DE3EA51334913PQ/2?accountid=136204
942			_2ddc _cJA-ARTICLE