Stock Market Movement of BRICS countries: An Empirical Analysis

The study is designed to analyze the stock market movement of BRICS nations. The

abbreviation BRICS stands form Brazil, Russia, India, China and South Africa. Each country

have their different stock market and their indices such as Brazil has BM&F Bovespa

(bovespa), Russia has Moscow Exchange (RTS Index), India has Bombay Stock Exchange

(Sensex Index), China has Shanghai Stock Exchange (SSE Index), South Africa has

Johannesburg Stock Exchange (FTSE/JSE Index) respectively. These are the major stock

exchange of their respective countries. Monthly data from May 2003 to August 2015 is used

in the following research study. The result of Granger causality test is showing causality

relationship among various stock market indices of various BRICS nations.The following

research paper also indicates how these stock market indices are cointegrated with each

other. Data of various market indices have been collected from the secondary sources such

as from their original stock market websites and some other sources also i.e. investing.com,

yahoo finance etc. to analyze the pattern of stock market movement of BRICS country.