A Study On The Impact Of Budget On Indian Stock Market Returns (With Special Reference To Nifty 50)
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Abstract
The research study focuses on the analysis of how the budget affects the Nifty 50 index. The daily average returns and the volatility of returns over a ten-year period (2014–2023) have been used to measure the impact of the budget. During the Pre-budget and Post-budget periods, the study time is divided into three categories: short term (5 days), medium term (15 days), and long term (30 days). To determine the impact of the budget and the volatility of returns, statistical tests like the t-test and F-test have been applied to the returns of the nifty 50. As a result the post-budget period has not seen a rise in volatility as the time period moves on. The choice of investors to make investments in the stock market during the budgetary period is regarded as a riskier move in comparison to other periods.