Impact of COVID-19 on NSE Sectoral Indices
COVID-19; Economy; Event Study; India; Lockdown; NSE; Pandemic Return; Sectoral Impact; Sectoral Indices; Stock Market
The paper examined the level of impact of COVID-19 on different sectors of the Indian economy using NSE sectoral indices under the event study methodology. Multiple events and event windows were considered to examine the sectoral impact of the pandemic on different events and at various stages of the outbreak. Amongst the specific events considered, the lockdown announcement had a significant impact on sectoral indices, whereas the stimulus package announcement had limited impact and the 1st COVID-19 case had no impact on sectoral indices. The impact was intensive in the prelockdown period leading to the intensive lockdown, there was not much impact in other phases. The overall impact of the COVID-19 outbreak was significantly negative on Banks, Financial Services, and Realty indices, and positive on Pharma and FMCG indices. The media index showed no significant impact of the pandemic. Indian Institute of Finance.
Finance India, Vol-36, No. 1, pp. 389-410.
Bhagawan S., CHRIST Deemed to be University, Department of Commerce, Hosur Road, Bhavani Nagar, SG Palya, Central Campus Karnataka, Bangalore, 560029, India; Satish K.B., CHRIST Deemed to be University, Department of Commerce, Hosur Road, Bhavani Nagar, SG Palya, Central Campus Karnataka, Bangalore, 560029, India