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Effect of Crude Oil Price Variations on Stocks With Special Reference to NSE

Effect of Crude Oil Price Variations on Stocks With Special Reference to NSE

Shimna Jayaraj (Jain University, India), T. Shenbagavalli (Jain University, India), V. Vipanchi (Jain University, India), B.S. Sudha (Jain University, India), Juhi Jain (Jain University, India), and Biswaranjan Senapati (Parker Hannifin Corp., USA)
Copyright: © 2024 |Pages: 16
DOI: 10.4018/979-8-3693-2193-5.ch017
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Abstract

Crude oil consumption is one of the major economic indicators in the economy. The study examines the interrelation between crude oil prices and the stock market. The stock market indices chosen are Nifty 50, Nifty 100, Nifty 200, Nifty 500, Nifty Auto, Bank, and FMCG. The study has considered only one event, i.e., crude oil for six years, leaving a research gap for analyzing other macroeconomic indicators affecting the Indian stock market. This chapter intends to investigate whether any impact exists on different indices of NSE due to the changes in prices of crude oil globally due to certain internal and external factors. This chapter also helps suggest to the investors their deals in Indian and global markets. This study is done to know the impact of fluctuations in crude oil prices in the global market, which affects the Indian stock market, and also to know the reasons for the fluctuations in crude oil prices. This study also analyzes the dependency level of both variables (crude oil prices globally and the same prices in the Indian stock market).
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1. Introduction

National Stock Exchange: NSE is one of the largest stock exchanges in the world, situated in Mumbai. It was set up in 1992. The National Stock Exchange (NSE) was the first exchange in India to provide a fully automated trading platform in the form of a screen-based electronic system available throughout the country. NSE has changed how it functions, considering the latest developments in the Indian economy and technology (Akshaya & Naachimuthu, 2022). NSE has incorporated many financial asset classes and customer segments today. Its multiple roles now include an exchange regulator, Index provider, investor educator, etc. It offers exchanging, clearing, and settlement administrations. It is the only business in India to provide an electronic trading office. As a result, it is the only one that can bring the whole nation’s network of financial experts together. Way2Wealth was consolidated as Sivan Web Trading Pvt Ltd in the year 2000 in Bangalore and was rebranded as Way2Wealth Securities Pvt Ltd around the same time. It is a retail-engaged speculation consultative business and provides many other budgetary administrations (Aswathi et al., 2021). As per BSE, It was also positioned among the main ten broking elements in the retail broking section during the budgetary year 2019. It is available crosswise over 21 states in India.

Table 1 gives a clear picture of India’s crude oil consumption from 2015 to 2020

Table 1.
Consumption of crude oil through imports (%)
Financial YearConsumption of Crude Oil Through Imports (%)Amount ($ Million)
201577.31,43,639
201678.31,16,443
201780.665,923
201881.770,705
201983.787,372
20208977,000

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