000			01685nam a2200217 4500
999			_c51222 _d51222
003			OSt
005			20190503174420.0
008			190503b ||||| |||| 00| 0 eng d
100			_aPatil, Ashok _933622
245			_aOil price shocks and Stock Market Performance: A Case of Indian Stock Market.
300			_a519-536 p.
520			_aThe paper studies the empirical relationship between Oil Price Shocks and Stock Market Index movement and their asymmetric responses to oil price shocks. The Indian stock market index was represented by Sensex, and daily closing prices of Sensex and crude oil prices for a ten-year period between 2006 and 2015 wereanalyzed using dynamic linear regression or ARIMAX. The study indicated that there is no significant evidence of correlation between oil price shocks and stock market index movement; however, stock market index movement is auto-correlated with its two lags. The findings of this paper also show statistically significant asymmetric responses of stock market index movement to oil price shocks. Stock market index movement was negatively correlated with positive oil price shocks, and positively correlated with negative oil price shocks. Subsequently, the equations of the models are used to forecast the stock market index movement. This study uniquely enhances the understanding of bivariate relationships
653			_aStock exchanges
653			_aFinancial performance
653			_aRegression analysis
653			_aEconomic policy
653			_aPetroleum product sales & prices
700			_aMadhuri, Gita _929225
773	0		_029298 _972601 _aAGRAWAL, J.D. _o5559316 _tFinance India _x0970-3772
942			_2ddc _cJA-ARTICLE