Author(s): Sushil Kumar Gupta, Atul Fegade, Pradip Padhye, Ashish Mohture, Prashant Kalshetti and Y Suryanarayana Murthy
Purpose – This research paper estimates the impact of COVID-19 pandemic on leading world indices. The study also measures the degree of association between Gold, Silver, Crude Oil, and Bitcoin with the Major World Indices during COVID-19. Design/methodology/approach –The major indices taken for the research are from America, Europe, the Middle East, Africa, and the Asia-Pacific region. Researchers have conducted research on impact of Major World Indices on the Gold, Silver, Crude Oil and Bitcoin during COVID 19. For defining the relationship, Panel Regression with random effect model is used by the researchers. Findings – It was concluded that the consequences of the pandemic disease are significant, and they have had a direct impact on global stock markets and global commodities but they can also provide an opportunity to hedge and invest after better understanding of the relationship between them. It was also established that the impact can be positive as well as negative during waves, which gives an indication of the performance of indices during this pandemic. Practical implications – Several implications can be drawn in light of these findings. Risk officers, regulators, fund managers, qualified institutional buyers, foreign institutional investors and HNIs may be interested in the study's findings. Investors, who suffer huge losses as a result of COVID, should take note of the study's conclusions. Originality/value – The relationship between the impact of the COVID-19 pandemic on leading world indices, crude oil, gold, and silver has been analyzed using a rich sample of world's leading indices. Proposed model can be the outcome of the study.