A Comparative Analysis of Returns of Different Stock Market Indices with the Sustainable Index: Evidence from the Indian Stock Market
摘要
Many investors have been concentrating on sustainable assets such as different schemes of socially responsible mutual funds, social indices, etc. for the past few decades, both on a national and worldwide basis. Consequently, comparing the returns of various parent and sectoral indices with the Indian Sustainable Investment Index is the goal of the current study. The BSE100 ESG index was employed as a green investing index. Furthermore, BSE SENSEX 100, and BSE SENSEX 50 as well as different sectoral indices were utilised as the parent index in the study. From 1st October 2019 to 31st March 2023, the day-to-day prices of the sample indexes were gathered. The results from descriptive statistics, the Mann-Whitney test showed that the sustainable index has a high correlation with all indices except telecommunication, realty and health care and provides higher average return as compared to other indices. Consequently, investors can spread their risk across many portfolios by using other sorts of secure economic resources.