© Impact Journals INDIAN STOCK MARKET AND MACROECONOMIC FACTORS IN CURRENT SCENARIO

This paper is an attempt to understand the relationship between macroeconomic variables and Indian stock market. The multivariate stepwise regression analysis helps to understand the impact of macroeconomic factors on Indian stock market. Granger’s causality test has been applied to analyze the dynamic causal relationship among the variables. The explained variables in the study includes average monthly closing price of BSE sensex and S&P CNX Nifty while th