The purpose of the study is to empirically analyze the influence of the macroeconomic indicators onIndia's stock market performance. The macroeconomic variables considered are inflation, interest rate, money supply,industrial production, and exchange rates in India. The study covers the period from April 2005 to April 2021. The ADFtest has been employed to explore the stationarity of the variables, and the ARDL methodology has been administeredto unearth the association between the macroeconomic variables and stock market return. The study found thatindustrial production, interest rate, and exchange rate have long term negative relationship with stock return. Morespecifically, the exchange rate has a significant impact on the stock market performance. At the same time, inflationexhibits a negative short-term relationship with the stock market return. Though money supply has a positiverelationship, the magnitude is insignificant.