A Study On Comparative Analysis Of Indian Stock Market With Emerging And Developed Stock Markets

Abstract

The financial globalization of financial markets is deeply connected to each other. Henceforth whenever the Economic, Political and Natural calamities occur that influence the entire financial markets of countries. As the Indian Financial Market has become more integrated with its global counterparts, the research is undertaken to determine the volatility levels in the stock markets of India and International stock markets and examine the co-integration and causality between India and other selected International markets and assess the market efficiency of the developed and emerging stock markets before and after financial crisis on the economy. The daily closing prices of the stock market indices of five important emerging stock markets are India (Nifty), China (Shanghai Composite), Malaysia (Kuala Lumpur), Indonesia (Jakarta Composite), South Korea (KS11) and three developed stock markets are US (NASDAQ), UK (FTSE), Japan (Nikkei 225), for the past ten years from 01.04.2005 to 31.03.2015 have been taken for the analytical study. newline