Analyzing Currencies and Foreign Markets Indices on Indian It Stocks Using Ensemble Ml: An Impact Perspective

Abstract

The stock market is vital to every nation's economy, and economies have become interlinked with globalization. Using the Granger causality technique, prior research has evaluated the impact of foreign stock exchanges, currency exchange rates, and economic publications on the Indian stock market. This study uses ensemble machine learning, deep learning, and statistical methods with a majority voting to provide more robust results. The study finds that foreign IT stock markets from France, the United States, Britain, and Germany impact positively and negatively to the Indian IT stock market. The study's findings could be valuable for financial markets to fill the gap in understanding strategies to increase IT stock indices and provide in- depth insights into developing different trajectories in the stock market. Portfolio managers and investment management organizations could also use the study to develop more profitable investment strategies.