Energy Sector Of NSE- A Study During The Lockdown Of Covid-19

ABSTRACT

India is one of the developing nations where most of oil and gas requirements are fulfilled by importing them. Price fluctuations in the global market creates a big impact on the economy. Lockdown called by the government of India cut the demand for fuel as there was no consumption of it as vehicular movement was stopped. Oil and gas sectoral indices along with all the companies enlisted in this index are studied. The study intends to find if there is any impact in the energy sector of the National Stock Exchange(NSE) of India along with finding if there are any abnormal returns. The period of study is from 30th May 2019 to 13th May 2020. The event study methodology is used for the study along with Kolmogorov-Smirnov, Shapiro-Wilk and Wilcoxon Signed Ranked Test. The study reveals that there is some abnormal return on a certain date. The market and return data are not normally distributed. The companies under study have a positive correlation which moves in unison with the sector index.