Please use this identifier to cite or link to this item: https://gnanaganga.inflibnet.ac.in:8443/jspui/handle/123456789/14500
Title: Impact of Quarterly Results on Sensex and Market Volatility- An Empirical Research
Authors: Pramod Kumar
Kirti Khanna
Keywords: BSE sectoral indices
Sensex
Quarterly Results announcements
Market volatility
Issue Date: 2011
Publisher: Journal of Accounting and Finance
Abstract: Intraditionalpractices,anIndian companyhastocommunicate information regardingallitsworking, financial positionandstatusonceayearthroughtheannualreport.But withthe passageoftime;the needforquickandtimely reportin ghasarisen. Becauseof this thedisclosure ofthequarterlyorinterim financial resultshastaken thecentre stageasJarasthe stock marketisconcerned.Quarterly reportingisameansof communicatingtheresultsof business operationsonaperiodic and regularbasis.Itnot onlyhelpsthecompany buttheinvestorsalsoby transparent reporting ofthequarterlyperformance.Thisstudyhastwo main objectives;toanalyzetheimpact oftopmost sectoral indicesontheBSE benchmark duringtheQuarterly resultsandtojudgethemarket volatility duringtheperiodof Quarterly results announcements.Forthefulfilment of these objectivestheresearchers havegathereddatalike;different indicesfigures, sensex trends, and thequarter/11results announcedbydifferentcompanies and from varioussecondarydatasources,forthefinancialyear 2009-10.Fortheanalysis ofdatavarious statistical measure s viz., Coefficientof Correlation, Coefficient of Determination and Standard deviation havebeenused .Foranalyzingtheimpact ofsectoral indicesonSensexby theannouncement of quarterlyresults the researchers have establishedtherelationship betweenthetwo variablesviz.,sectoral indices and sensex movementsby theCorrelation method. Thestudyalsoexplainsthe degree and direction of that relationship that istheextent of impactonquarterly reportingof constituents ofsectoral indicesonsensex.To seethe market volatilitythe useof marketreturnshas beenmade which justifiesthestudy.By theanalysis of different dimensions,theresearchers have found that the quarterly resultshave their impacton themovement of sensex and duringthe periodof announcement ofresultsthe marketcanvaryas pertheir daily returns. But these announcementscanaffectthe market for a short term only.
URI: http://gnanaganga.inflibnet.ac.in:8080/jspui/handle/123456789/14500
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