Stock market drivers of retail investors’ sentiment – facets and new evidences from India

  • Ranjan Dasgupta Goa Institute of Management Sanquelim, Goa, India, and
Keywords: Investor sentiment index, Investors’ sentiment, Stock market drivers, Multiple regression model


The determinants of investors’ sentiment based on secondary stock market proxies in manyempirical studies are reported. However, to the best of our knowledge, no study undertakes investor sentimentdrivers developed from primary survey measures by constructing an investor sentiment index (ISI) in relationto market drivers to date. This study aims to fill this research gap by first developing the ISI for the Indianretail investors and then examining which of the stock market drivers impacts such sentiment.