Abstract:
The aims of the study is to identify the impact of market returns, oil prices, and foreign
exchange rate on stock returns. There is a dearth of knowledge in literature regarding the impacts
of identified variables on stock returns of oil and lubricants. The quantitative research design was
adopted and the deductive approach was applied. The secondary data was gathered from 2021 to
2024. The findings of the study suggest that all of the three independent variables have a significant
impact on the dependent variables. The future research can be conducted by considering other
factors which affects the stock returns
