Exploring The Influence Of Social Media On The Stock Market- A Case Study On The State Of Odisha

Abstract

In today's technologically-driven society, social media plays a multifaceted and significant role across various fields and sectors worldwide. One such domain where its impact is noteworthy is the stock markets, both in India and globally. The influence of social media on stock markets can be gauged by the number of individuals engaging with these platforms and their interest in stock market activities. The escalating use of the internet has further propelled the popularity of social media.

Social media serves as a crucial medium connecting people not only within India but across the entire world. The dynamics of the stock market have transcended geographical boundaries, making it a global marketplace accessible to investors worldwide. This interconnectedness is made possible through the widespread adoption and utilization of technology by a large portion of the global population. While numerous studies have explored the impact of social media on stock markets in India and globally, there is a noticeable gap in understanding its influence on the stock market in Odisha.

This study seeks to fill this gap by examining the impact of social media on the stock market in India and its potential influence on investors in Odisha. The research utilizes both primary and secondary data sources, with a structured questionnaire designed for primary data collection. Secondary data is obtained from various electronic journals, magazines, annual reports of companies, and reputable websites. Statistical tools such as percentage calculations, correlation, and chi-square tests are employed for analysis and interpretation.

The findings of the study affirm that social media plays a pivotal role in shaping and impacting the stock market. It emerges as a valuable tool aiding stock market participants and investors in navigating the complexities of the current market scenario.