ABSTRACT
This study empirically analysed the stock price reaction and the efficiency of Indian stock market of the Nifty 50 index around the budget announcements during covid periods from 2020 to 2022 by applying event study methodology. The market efficiency was tested by employing 61 days event study window including 30 days before and 30 days after the announcement date, and the event date of the budget, while the estimation window period comprises of 120 days of the pre-event period. The market model is employed to demonstrate abnormal returns near the event date and to assist in estimating expected returns. Abnormal returns, Average abnormal returns, Cumulative average abnormal returns, and ttests were applied for analysing the market efficiency on Indian budget announcements. This research paper reveals that the efficiency level of the Indian stock market is high and the investors can not make an abnormal profit over the budget announcements during Covid periods. © 2022, Remittances Review. All Rights Reserved.
ABSTRACT
Background: Diabetes mellitus has been considered a significant risk factor for morbidity and mortality for COVID-19.1 HbA1c levels are often used as a marker of poor glycaemic control and are one way of diagnosing pre-diabetes as well as diabetes.2,3 We tried to explore whether HbA1c levels could be an independent risk factor for mortality and morbidity in patients with positive coronavirus (SARS-COv-2) swabs. Methods: This was a retrospective multicentre study of coronavirus swab positive patients who had a recent HbA1c test. Their demographic data, medical history, COVID-19 swab and laboratory results, and final outcomes were analysed. Patients were divided into three groups;HbA1c in normal (group 1), pre-diabetic (group 2) and diabetic (group 3) ranges. Data were analysed using JASP and statistical computation using a χ2 test. Results: A total of 1,226 patients had SARS-CoV-2 RNA identification swabs between 10 February 2020 and 1 May 2020. A cohort of 120 of these patients had positive swab results and recent HbA1c results. Mortality rates for group 1 (normal HbA1c) and 3 (diabetic HbA1c) were relatively higher than group 2 (pre-diabetic HbA1c). Among group 2, female patients had greater mortality, perhaps because of fewer male patients, although overall co-morbidity was less (4/120 (3.33%) in group 2 compared with 18/120 (15%) in group 1 and 14/120 (11.66%) in group 3. Overall, 36/120 (30%) patients died and 84/120 (70%) survived. Survival curves after analysis of data showed that increasing HbA1c levels were associated with poorer outcomes across all groups. Analysis was significant with p=0.003. Conclusions: HbA1c levels in this study were an independent marker of increased risk of mortality in COVID-19 swab positive patients. The findings are statistically significant (p=0.003). Increased co-morbidities at normal HbA1c seem to have a contributing role in enhanced mortality.