EMPIRICAL STUDY OF WEAK FORM OF EFFICIENCY IN THE INDIAN STOCK MARKET AT INDEX LEVEL AND SCRIP LEVEL

  • A. Shanker Prakash Lecturer, School of Management Sciences, Varanasi (UP)
  • Dhananjay Sahu Professor, Faculty of Commerce, Banaras Hindu University, Varanasi (UP)
Keywords: Stock Market, India

Abstract

This paper makes an attempt to critically analyze the market efficiency in its weak-form. The data were abstracted from
official website of BSE and NSE of India, for the period from 1 April, 2002 to 31 March, 2010. The study is done at index
level viz. SENSEX and Nifty, and at scrip level. The battery of most popular tests has been used to arrive at its conclusion.
The batteries of popular test intensively used for the study are Autocorrelation Test, Unit Root Tests (ADF Test and PP
Test) and Runs Test. The results of the study lead us to conclude that the Indian stock market is representing the weakform
of efficiency in either index or at scrip level.

Published
2020-04-07
How to Cite
A. Shanker Prakash, & Dhananjay Sahu. (2020). EMPIRICAL STUDY OF WEAK FORM OF EFFICIENCY IN THE INDIAN STOCK MARKET AT INDEX LEVEL AND SCRIP LEVEL. Management Insight, 9(2), 90-101. Retrieved from http://journals.smsvaranasi.com/index.php/managementinsight/article/view/468
Issue
Vol. 9 No. 2 (2013): Management Insight
Section
Articles