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Subject: Financial Management × Author: Dipti Bajaj × End date: 2013 × Type: Thesis × Thesis Type: M.B.A ×
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    ThesisItemOpen Access
    Impact of published news on stock price and volume – A study of selected stocks
    (Punjab Agricultural University, 2009) Dipti Bajaj; Gupta, Mohit
    The research project “Impact of published news on stock price and volume – a study of selected stocks” was undertaken with the objectives to study the impact of published news on stock price and trading volume. A total of 40 stocks were selected randomly from S&P CNX Nifty and CNX Nifty Junior index. The news were collected from ‘The Economic Times’ from July 1, 2007 to December 31, 2007. Event study methodology was applied and the average abnormal returns, cumulative abnormal returns, absolute trading volume, relative trading volume and change in liquidity ratio were calculated for analyzing the impact. No significant impact of news was found on Average Abnormal Daily Return on the event day both for Nifty and Nifty Junior stocks. No significant mean difference was found with respect to Average Abnormal Daily Return during the estimation window. No significant impact of news was found on price and volume on the whole. For Nifty stocks negative news, significant Average Cumulative Abnormal Returns were found from 7th day before event and 4th day after the event. For total sample positive news, significant average Cumulative Abnormal Returns were found from 6th day before event day.