Performance of Healthcare Industry in Indian Stock Market
DOI:
https://doi.org/10.60081/SSHA.02.01.2024.216-222Keywords:
Stock return, S&P BSE Healthcare index, Volatility, India, Covid-19Abstract
COVID-19 has created an uneasy scenario in India and throughout the world. It has also halted business in India and had a significant negative impact on the Indian stock market. The Indian stock market also entered into recession. This article examines the time variation in volatility and stock returns in the BSE Healthcare index in the Indian stock market from 2019 to 2023 for a pre and post covid comparison of stock returns and volatility. This study has utilized all three possible returns (Day, Month, and Year) to get a complete image. An asymmetric GARCH model was used to evaluate the temporal variation in volatility. The findings of the paper confirm the literature that volatility does have an adverse impact on stock returns. During the pandemic, there was a lot of volatility in stock prices, poor market conditions, and a losing portfolio.
References
n.d. Asia Index. Accessed 4 28, 2024. https://www.asiaindex.co.in/indices/equity/sp-bse-healthcare.
Batra, Amita. 2004. "STOCK RETURN VOLATILITY PATTERNS IN INDIA." Indian Council for Research on International Economic Relations (ICRIER). Accessed 4 28, 2024. https://www.econstor.eu/handle/10419/176146.
Dutt, Tanuj , and Mark Humphery-Jenner. 2013. "Stock return volatility, operating performance and stock returns: International evidence on drivers of the 'low volatility' anomaly." Journal of Banking and Finance 37 (3): 999-1017. Accessed 4 28, 2024. doi:10.1016/j.jbankfin.2012.11.001 .
Hatmanu , Mariana, and Cristina Cautisanu. 2021. "The Impact of COVID-19 Pandemic on Stock Market: Evidence from Romania." International Journal of Environmental Research and Public Health 18 (17). Accessed 04 27, 2024. doi:https://doi.org/10.3390/ijerph18179315.
KENTON, WILL. 2024. FINANCIAL ANALYSIS. 5 1. https://www.investopedia.com/terms/g/generalalizedautogregressiveconditionalheteroskedasticity.asp#:~:text=GARCH%20is%20a%20statistical%20model,%2C%20bonds%2C%20and%20market%20indices.
Mittal, Shivam, and Dipasha Sharma. 2021. "The Impact of COVID-19 on Stock Returns of the Indian Healthcare and Pharmaceutical Sector." Australian Accounting, Business and Finance Journal 15 (1). Accessed 04 27, 2024. https://ro.uow.edu.au/cgi/viewcontent.cgi?article=2193&context=aabfj.
Singh, Gurmeet, and Muneer Shaik. 2021. "The Short-Term Impact of COVID-19 on Global Stock Market Indices." Contemporary Economics 15 (1): 1-18. Accessed 04 27, 2024. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3848616.
Singh, Vijay, Pooja, and Ankit Yadav. 2024. “Mapping of Academic Literature on Corporate Governance and Firm Performance: Application of Bibliometric Analysis.” Pacific Business Review (International) 16 (7): 58-69. Accessed 06 26, 2024. http://www.pbr.co.in/2024/2024_month/January/6.pdf.
Taylor, Sebastian . n.d. r-squared. Accessed 5 1, 2024. https://corporatefinanceinstitute.com/resources/data-science/r-squared/#:~:text=R%2DSquared%20(R%C2%B2%20or%20the,(the%20goodness%20of%20fit).
Downloads
Published
Issue
Section
How to Cite
