Munich Personal RePEc Archive

Stock Market's Reaction to Monetary Policy Announcements in India

Sasidharan, Anand (2009): Stock Market's Reaction to Monetary Policy Announcements in India.

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Abstract

The paper examines stock market behaviour on days preceding and succeeding the announcement of a change in the monetary policy stance. Market's plausible reactions are tested using nonparametric statistics. The tests reveals that there is no systematic pattern in its reaction, neither towards the type of policy stance (expansionary or contractionary), nor during the days corresponding to the `event'.

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