Published Paper Details:

The purpose of this study is to analyze the impacts of some prominent macroeconomic factors on the Indian Stock Market index, BSE-30 (Bombay sensitivity index-30). For centuries, and mostly since the 20th century, stock markets are the heart of economies. In the present era, the largest economic crises arise from the stock market instabilities and thus, the stock markets are the focus of interest of the economy. Economists, investors, and policymakers predict the tendency of share prices, which substantially depend on foreign and domestic macroeconomic factors. Within this purpose, this study tries to investigate the impact of some selected macroeconomic factors on BSE-30 index over the 2000�2018 period. The findings obtained from the data via the ARDL Bounds Test suggest that economic growth, the relative value of the domestic currency, portfolio investments and foreign direct investments raise the stock market index while interest rate and crude oil prices negatively affect it. The results briefly reveal that the Indian Stock Exchange Market needs stronger domestic currency, higher international capital inflows, and lower energy and investment costs.