This paper examines the relationship between the 12 constituents of Nifty PSU banks with Nifty 50 index from May 01, 2011 to May 30, 2020 using daily stock returns. The constituents of Nifty PSU include Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India Ltd (CBI), Canara Bank, Indian Bank, Indian Overseas Bank, Jammu and Kashmir Bank, Punjab National Bank, State Bank of India, UCO Bank, and Union Bank of India. The correlation study reveals a positive relationship between the 12 constituents and Nifty 50. The descriptive statistics show volatility. The multiple regression uses SBI as dependent variable and other stocks as independent variables, to help forecasting of one stock price (dependent variable) over the other movements to enable prediction of future price.
Volume 12 | 07-Special Issue
Pages: 1948-1953
DOI: 10.5373/JARDCS/V12SP7/20202309