MUNI THE BOSS

Tags : Sachin Tendulkar, Sensex, Nifty, India vs Australia, Russell Smyth, Vinod Mishra,
Posted: Wed Oct 13 2010, 19:10 hrs
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A superb ending for the stock markets happened in tandem with Team India's victory against Australia in Bangalore. Coincidence?



The 484-point surge in BSE benchmark Sensex today coincided with the triumph of Indian cricket team against Australia --thus corroborating claims of a correlation between trends in stock markets and cricket field.



India today completed their first ever series whitewash against Australia, with Sachin Tendulkar leading them to a comprehensive seven-wicket victory in the second and final Test match in Bangalore.



Though it was purely a coincidence, many analysts believe there are some sentimental relationships between cricket and Dalal Street.



A recent research by Monash University in Australia showed that when India's cricket team loses one-day matches, stock markets take a beating. If master blaster Tendulkar is on the losing side, the damage to the bourses is even worse.



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Research by economists Russell Smyth and Vinod Mishra of Monash University suggested that the performance of the Indian cricket team in one-day matches can significantly impact the fortunes of the Indian stock market.



"While a win by the Indian cricket team has no statistically significant upward impact on stock market returns, a loss generates a significant downward movement in the stock market," Smyth, the Head of Monash University's Department of Economics, had said.



In the second test match, Tendulkar (53 not out) added a half century to his first innings double ton and capitalised on the foundation laid by debutant Cheteshwar Pujara (72) as India easily surpassed the target of 207 in the final session of the last day.



... contd.

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