Abstract:
The coronavirus (COVID-19) outbreak has proven to be one of the most defining health and a socio-economic crisis of this century. The effect of the coronavirus pandemic on the Indian economy has been particularly disturbing. This work blends statistical and semantic approaches to analyze the effect of the COVID-19 pandemic on the Indian stock market. It empirically investigates the impact of the significant events such as lockdown, unlock, and vaccination announcements on eight key NIFTY-50 sectors of the Indian stock market, using event-based statistical analysis. The microblogging platform Twitter is deployed to extract COVID-19 related tweets, pertaining to the Indian stock market, and perform sentiment analysis to analyze and understand the general sentiment of consumers towards the stock market. Results and detailed Inferences are drawn from these two completely different facets viz. the objective indices drawn from the stock market and the subjective perspectives drawn from the social media in order to holistically analyze the impact of the COVID 19 pandemic on the Indian stock market.
