Analysis of Relationship Level between Select Steel Companies and Nifty

Abstract

Steel industry has very rapid growth in the industrial sector and rising infra expenditure projects in railways, roads and highways etc. It has strong export demand and signs of revival in the domestic sales.  There are many issues that affect the indices of the stock market.This study examines the short run dynamic relationship between steel price-behavior with Nifty through correlation model. The secondary data is used in this study from November1,2017-January 31, 2018 closing stock price of selected companies has been collected. It is concluded that there is a positive correlation between steel prices and Nifty index.