• Dr. RAJANI

This research summarizes the relationship between market index and Auto Sector index. For analyzing the market index with the auto index, NIFTY50 INDEX has been taken as a market indicator (independent variable) and NIFTY AUTO INDEX has been taken as Automobile Sector Index (dependent variable). The duration of the study was taken eighteen years from January 2003 to December 2022. The relationship evaluated between. And to examine the relationship between the overall market index and the automobile sector index, correlation and regression has been applied through E-views12 to know the relationship between the market index and the automobile sector index. The Granger causality test has also been applied to check the interrelationship between these two variables. The purpose of applying the granger causality test was to know whether the interrelationship between these two variables was bidirectional or unidirectional. Keywords: Nifty Fifty Index, Nifty Auto Index, Correlation, Regression, Granger Causality Test. The study conclude that nifty Auto index has strong positive relationship with nifty fifty index , regression test result revels fluctuation of nifty fifty index has impacted the functioning of nifty auto index and granger causality test shows existence of long term bidirectional causality between variables .

NIFTY FIFTY iNDEX,NIFTY AUTO INDEX,E-VIEWS,GRANGER CAUSALITY TEST

"An Empirical Study of Relationship between Market index and Auto sector index.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 1, page no.f428-f432, January-2024, Available :http://www.jetir.org/papers/JETIR2401551.pdf

"An Empirical Study of Relationship between Market index and Auto sector index.", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 1, page no. ppf428-f432, January-2024, Available at : http://www.jetir.org/papers/JETIR2401551.pdf