The article explores how the Indian stock market and foreign exchange market influence each other during financial crises. It looks at how the integration of domestic and international markets affects asset prices and volatility. The researchers found that crises like the 2008 financial collapse led to significant losses and instability in financial markets. They also observed that the Indian stock market, heavily influenced by foreign investors, experienced major declines during crises as foreign investments were withdrawn. Overall, the study highlights the interconnectedness of stock and foreign exchange markets and the impact of global financial crises on these markets.