The boundless, mounting demand and prominence of oil globally, have steered to its highly complex market and pricing system. To discipline inflation and to sustain the rapid growth of the economy, the role played by oil is very vibrant. Almost all modern-day activities are led by the price of crude oil, notwithstanding the call for green energy. As one of the countries that import the most oil, India relies heavily on oil imports. The nation is positioned as 3rd largest consumer of crude oil after China and the United States of America. India has newly adopted a pricing contrivance for its petroleum products which replicates the global crude prices. The precariousness of crude oil prices drove many corporations away and it distresses the stock market also. Identification of the factors behindhand this complex market system is vivacious as it can succor in policy and critical decision making. The goalmouth of this study is to explore the impact of crude oil price movements on sectoral stock indices. Hypothesis testing is done with the help of Kendall’s tau-b correlation using SPSS and the relationship between stock indices and oil prices were found out.

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