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There is a continuous debate on how commodity prices affect the stock prices of emerging countries. We contribute to this debate by study the causal relationship between international prices of crude oil, gold, exchange rate, and Indian stock market. India is one of the major oil and gold importing and major petroleum products exporting country. On the daily prices of all the above mentioned variables from "January 1994 to December 2019", the nonlinear autoregressive distributed lag model (NARDL) is employed to examine cointegration (Shin et al., 2014). The findings of the study revealed that crude oil prices positively affect the Indian stock market and exchange rate negatively affects the stock market in the short run. Stock market is unaffected by gold prices. Our findings have essential implications for the various policymakers, investors, and traders.

In the era of financial integration, the study of volatility spillover can offer valuable insights. For portfolio investment and risk management, it is important to analyze volatility spillover from one market to another market. This study investigates the volatility spillover among the prices of natural gas (NG), crude oil (CO), exchange rate (EX), gold (GD), and stock market (SM) in the Indian context. We apply the exponential generalized autoregressive conditional heteroscedastic model to explore the volatility linkages among the variables mentioned above. This study contributes to the body of knowledge in the following ways. First, we consider the daily data from January 1997 to December 2019, so that the study can portray a detailed trend about the selected variables. Second, the findings of the study can be helpful for more than a few stakeholders including policymakers. Outcomes show that the volatility of the energy commodities does not affect SM volatility. However, EX has a highly significant impact on SM volatility. Only EX significantly affects GD volatility, rest of the variables do not have any impact on GD volatility. Furthermore, CO and EX volatility do not affect NG volatility rather it is affected by SM and GD price volatility. Several stakeholders of the Indian SM like academicians, policymakers, and investors can take insights from our results.

Recently, there has been a significant rise in the volume and significance of FDI flows. The foreign direct investment (FDI), which is undertaken by multinational corporations, affects not only the host economy but also the home economy in many ways. The impact of FDI on host economy has been very well explained by several researchers. But there is lack of literature that has investigated the impact of FDI on the economy of the investing country. The purpose of this paper is to revisit the empirical studies which are related with exploring the impact of outward FDI on various economic activities such as exports, domestic investment, productivity and economic growth in the investing country. In this pursuit, a through survey of empirical literature in this area, published since 1980 across different journals has been made and presented.