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7. Nifty Metal
8. Nifty Oil and Gas

9. Nifty Pharmaceutical

10. Nifty Realty
Analyzing the performance of each selected sectoral index, and how investors can avail
the benefit by investing into selected sectoral indices mentioned above during the budget
announcement period has been studied.

Structure of thesis:

Chapter 1: In this chapter, an Introduction to the topic and various overviews of the study
are presented, as a brief explanation of the Budget, Indian stock exchange, Indices,
Sectoral indices, Demonetization, GST, COVID-19, motivation of the study, background of
the study, research objectives, scope of this study and lastly, limitation of the study.
Chapter 2: An endeavour has been made to study the earlier analyses, and research
works in Stock market returns, Index returns and sectoral indices return. It also examines
the impact of various economic variables like- the Union Budget, Demonetization, GST,
COVID-19, etc., to identify the statistical tools and models used in different studies for
understanding the research gap and other findings of the previous studies.
Chapter 3: With the detailed study of literature review, this chapter presents- Research
objective, Conceptual framework, Research Hypothesis and Research methodology
including Data collection method, Research design, Sample size, Data analysis, Sectoral
indices analysed, Software and duration of the study.

Chapter 4: This chapter provides data analyses of selected sectoral indices with
statistical tools and techniques. Interpretations regarding results are also mentioned in
this chapter.

Chapter 5: Chapter five seeks to explain the results of statistical tests, rational, and
justification. It also provides details on the implications and further scope of the study.

Key words: Union Budget, Stock Market, National Stock Exchange, Sectoral Indices,
Investment

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