Assessing the Impact of COVID-19 Pandemic on the Stock and Commodity Markets Performance and Sustainability: A Comparative Analysis of South Asian Countries
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Author/sAhmed, Farhan; Syed, Aamir Aijaz; Kamal, Muhammad Abdul; López-García, Maria de las Nieves; Ramos-Requena, Jose Pedro; [et al.]
COVID-19 is certainly the first sustainability crisis of the 21st century. The paper examines the impact of COVID-19 on the Indian stock and commodity markets during the different phases of lockdown. In addition, the effect of COVID-19 on the Indian stock and commodity markets during the first and second waves of the COVID-19 spread was compared. A comparative analysis of the stock market performances and sustainability of selected South Asian countries is also included in the study, which covers the lockdown period as well as the time frame of the first and second waves of COVID-19 spread. To examine the above relationship, the conventional Welch test, heteroskedastic independent t-test, and the GMM multivariate analysis is employed, on the stock return, gold prices, and oil prices. The findings conclude that during the different phases of lockdown in India, COVID-19 has a negative and significant impact on oil prices and stock market performance. However, in terms of gold prices, the...