Özet:

Oil prices are one of the economic indicators that guide the world economy.  Changes in the price of oil can affect both macroeconomic variables and the stock market variables. By 2017, the BRIC countries' economies and stock markets are more sensitive to oil and oil prices than the rest of the world, 25 % of the world's surface area as a terrestrial area and 41 % of the world's population. Brazil, Russia, India and China are named at BRIC in the world market. Brazil is in the top 20 petroleum and exporting countries. Russia is the first and Saudi Arabia is the second biggest petroleum producer and exporter. India is the biggest third petroleum importer country in the World, because of it is developing industry. China is one of the two 200 billion US dollars raw petroleum importers. In this study, BRIC country stock markets were examined and the effects of oil price changes on the stock markets of this countries were investigated. In this content, panel regression analysis was performed, and the findings are consistent with expectations.

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