COVID-19 Vaccination Effect on Stock Market and Death Rate in India

Abstract

The COVID-19 epidemic has brought attention to the vulnerability of new illnesses, and immunization remains a viable option for resuming normal life. This paper examines the influence of COVID-19 vaccination on the death rate and the performance of stock market in India. For this study, COVID-19 vaccination and death rate data is gathered from the Ministry of Health and Family Welfare (MoHFW) portal, and the data for the stock index is taken from the Bombay Stock Exchange (BSE), India. In order to achieve a precise representation of feature significance and distribution, EDA (Exploratory Data Analysis) is utilized in this study. The impact of COVID-19 immunization on the mortality rate and stock market index is investigated using both statistical analysis and Machine Learning Regression-based models. The models are remarkably accurate in reproducing actual result. The empirical study suggests that vaccination has a strong positive impact on the stock market and reducing the death rate. Furthermore, the policies recommended by government and monetary authorities coupled with COVID-19 vaccine supported the stock market recovery in pandemic.

Winners and losers from Pfizer and Biontech’s vaccine announcement: Evidence from S&P 500 (Sub)sector indices

“…Although studies [15,44,45] show that vaccination has a stabilising impact on the capital markets, a high vaccination coverage rate is necessary to reap full benefits of vaccination programs. However, vaccine hesitancy is considered a serious problem [46,47] that needs to be addressed, especially in the developing countries [48].…”

COVID-19 Government restriction policy, COVID-19 vaccination and stock markets: Evidence from a global perspective

“…Our study has some contributions as follows. First of all, unlike the literature that purely studies the relationship between vaccinations and the stock market (e.g., Apergis et al, 2022 ; Behera et al, 2022 ), or purely studies the impact of COVID-19 government restrictions on stock market (e.g., Anh & Gan, 2020 ; Narayan et al, 2021 ; Caporale et al, 2022 ; Kizys et al, 2021 ; Scarcella et al, 2022 ; Xie & Zhou, 2022 ), we systematically examine the impact of COVID-19 government restrictions on stock market and the role played by COVID-19 vaccination. We not only explore the role of the advent of COVID-19 vaccination, but also examine whether COVID-19 restriction policy can play a mediate path in the impact of COVID-19 vaccination rate on stock markets.…”

Vacunación Covid-19 Y Respuesta De Los Mercados Financieros Latinoamericanos

“…Simultáneamente, Mishra et al (2022) a través de un análisis de prueba de límites ARDL examinaron las relaciones a corto y largo plazo, demostrando el efecto positivo de la masificación de las vacunas sobre el mercado de valores norteamericano. En esta misma línea, Behera et al (2022) mostraron que, las campañas de vacunación de la población tienen un impacto positivo en el mercado de valores para el caso de la India. Coincidentemente, Apergis et al (2022) analizaron que el programa de vacunación en Canadá ha revertido los efectos negativos de la pandemia por COVID-19 sobre los rendimientos del mercado financiero.…”