An Empirical study of the Co-integration of the Indian stock market with select Stock Exchanges

Fluctuations in the stock market can have an intense economic impact on the economy. This paper studies the inter-linkages between select stock markets. Daily closing levels of the benchmark indices are taken for a period of 15 years. The stationarity of the series has checked by applying line charts and unit-root test. Granger’s causality model and Vector Auto Regression (VAR) model are performed to identify the integration among the markets chosen for study. The series was found to be stationary. Granger’s causality indicated that there is a causation effect by some of the markets uni-directionally. The results of Granger Causality test indicate a unidirectional causality from the Indian Market to Canada and China. In the reverse direction, Korea causes movements in the Indian market

Transmission of Shock across International Stock Markets: An Econometric Analysis

The risk of spillover of volatility among international stock markets has increased manifold and it needs to be diagnosed comprehensively. In this paper, the authors have used 11 stock indices to identify influential markets and detect the direction of transmission of shock across markets in different time zones using Granger causality test, Johansen cointegration test and vector autoregression. The findings of VAR show that the forecast error at the 10-day horizon explained by their own innovation is highest for the Australian and Chinese markets followed by Japan, India, Brazil and Russia.Markets of Germany, UK, USA and Canada are influenced by the Australian market. In fact, the Australian market is seen to be the most influential market among the markets under the study. The impact of Chinese and Canadian markets is found to be the least. These results can be useful for optimal option valuation, effective portfolio allocation and performance benchmarkin

STUDY AND ANALYSIS OF SUSPENSION FOR SPLENDOR PLUS TWOWHEELER USING ANSYS SOFTWARE

In this paper design modification of suspension spring has been studied. This study has been done on Hero Honda splendorvehicle.In this paper, design and analyze the performance of Shock absorber by varying the wire diameter of the coil spring has been carried out. The Shock absorber which is one of the Suspension systems is designed mechanically to handle shock impulse and dissipate kinetic energy. It reduces the amplitude of disturbances leading to increase in comfort and improved ride quality. The spring is compressed quickly when the wheel strikes the bump. The compressed spring rebound to its normal dimension or normal loaded length which causes the body to be lifted. The spring goes down below its normal height when the weight of the vehicle pushes the spring down. This, in turn, causes the spring to rebound again. The spring bouncing process occurs over and over every less each time, until the up-and-down movement finally stops. The vehicle handling becomes very difficult and leads to uncomfortable ride when bouncing is allowed uncontrolled. Hence, the designing of spring in a suspension system is very crucial. The analysis isdone by considering bike mass, loads, and no of persons seated on bike. Comparison is done by varying the wire diameter of the coil spring to verify the best dimension for the spring in shock absorber. Modeling and Analysis is done using CATIA and ANSYS respectively