G. Lakshmi Narasimha, Dr. K. Maddileti 02 07 This research explores how key macroeconomic variablesGross Domestic Product GDP Consumer Price Index CPI and the INRUSD exchange rateimpact the Nifty 50 index over the period from May 2019 to May 2025 Using quarterly data correlation and regression analysis were conducted to assess the strength and direction of these relationships The study found that GDP had a strong and consistent positive correlation with the Nifty 50 CPI showed a moderately positive trend and exchange rates displayed a weaker though still relevant influence These insights are important for policymakers investors and financial analysts who seek to understand the underlying economic forces affecting Indias capital markets This research contributes to existing financial literature and provides a quantitative foundation for forecasting and investment decisionmaking Copyright (c) Journal of Science Engineering Technology and Management Science. All rights reserved 2026