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PBME Volume VII ISBN: 978-81-951151-4-3

IMPACT OF THE RUSSIA-UKRAINE WAR ON THE INDIAN AND US STOCK MARKETS

Author(s): DR. SATHISH KUMAR B ORCID iD & AISWARYA JAYESH ORCID iD icon & SNEHA ROSE K.S. ORCID iD icon

doi: https://doi.org/10.5281/zenodo.7712605

Abstract

The Russian-Ukraine war started on January 24, 2022, creating contagion effects in the global financial market. The study investigates the stock market reactions of India and the USA to the Russia-Ukraine War using an Event study and the VAR Model. During this study, it was transparent that the war-affected different stock markets in different ways. The level of impact depends upon how much these countries are involved in the War. The event study found that both Indian and USA stock markets were positively impacted after the War. From VAR, it was also seen that the Indian stock market had a positive return spill over from USA stock market post-war. The chapter contributes for the effective decision making of investors and stock market analyst.

Keywords: russian-ukraine war, return spill over, event study, var

JEL Classification: C58, C87, D53, E44

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