International Journal of Financial Management

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An Assessment of Correlation between Twitter Sentiments Indicators and Stock Market Indicators, with Reference to BSE and NSE in India


Affiliations
1 Ph.D Research Scholar, Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli, Tamil Nadu, India, India
2 Professor and Head, Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli, Tamil Nadu, India, India
3 Ph.D Research Scholar, Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli, Tamil Nadu, India., India
     

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The study aims to reveal the relationship between Twitter sentiments indicators and stock market indicators, with reference to BSE and NSE in India. This study used secondary daily time series data, for a period of two years, from 01.01.2018 to 31.12.2019. Statistical tools, such as Descriptive Statistics and Correlation Matrix, were employed to perform the analysis. It was found from the correlation analysis that there was a relationship between Twitter sentiments indicators and stock market indicators. The findings of the study would be useful to the investors and other participants in the stock market, as they seek to understand the influence of Twitter on stock returns.

Keywords

Stock Returns, Social Media, Tweets
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  • An Assessment of Correlation between Twitter Sentiments Indicators and Stock Market Indicators, with Reference to BSE and NSE in India

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Authors

S Santhoshkumar
Ph.D Research Scholar, Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli, Tamil Nadu, India, India
Murugesan Selvam
Professor and Head, Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli, Tamil Nadu, India, India
Chinnadurai Kathiravan
Ph.D Research Scholar, Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli, Tamil Nadu, India., India
Dhamotharan Dhanasekar
Ph.D Research Scholar, Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli, Tamil Nadu, India, India

Abstract


The study aims to reveal the relationship between Twitter sentiments indicators and stock market indicators, with reference to BSE and NSE in India. This study used secondary daily time series data, for a period of two years, from 01.01.2018 to 31.12.2019. Statistical tools, such as Descriptive Statistics and Correlation Matrix, were employed to perform the analysis. It was found from the correlation analysis that there was a relationship between Twitter sentiments indicators and stock market indicators. The findings of the study would be useful to the investors and other participants in the stock market, as they seek to understand the influence of Twitter on stock returns.

Keywords


Stock Returns, Social Media, Tweets

References