In present, state stock market performance consider as one of the measures for the economic condition of a nation. In general, the stock markets are found to be inter-related to each other. This motivates to measure the relationship between the Indian stock future market and foreign stock future markets. The objective of this paper is to identify the presence of relationship between the stock markets. The paper considers the data of NIFTY50 FUTURE, DOW JONES 30, FTSE 100, HANG SENG FUTURE, NASDAQ 100 FUTURES, NIKKEI 225 FUTURES, and SSEC for10 years i.e. from 1st April 2008 to 31st March 2018. The analysis is done prior to the evaluation of normality and stationary of data. As the result shows non-normal and stationary of data the next step was conducted to identify the relationship between the variables through Co-integration test. As the their exist the co-integration so VECM Vector Error-Correction Models, is implemented, that confirms Nifty 50 future is affected due to SSEC (China) and HSF (Hong Kong) indices while other indices have no impact in the short run. But in the case of long-run none of the indices affects the Nifty 50 futures.
Volume 11 | 10-Special Issue
Pages: 197-203
DOI: 10.5373/JARDCS/V11SP10/20192791