Day of the Week Effect in Indian Stock Market |
Author(s): |
| J.SUDARVEL , KARPAGAM UNIVERSITY; Dr. R. VELMURUGAN,, KARPAGAM UNIVERSITY; Dr. K. KUMUTHADEVI,, KARPAGAM UNIVERSITY |
Keywords: |
| Indian Stock Market, Day of the week effect, BSE Sensex Index, NSE NIFTY Index and Efficient Market Hypothesis |
Abstract |
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The study tries to investigate the existence of the day of the week effect in Indian Stock Market. The study utilizes the Daily return data of the Bombay Stock Exchange’s Sensex Index and National Stock Exchange’s Nifty Index for the period ranging from April 2015 to March 2016 for analysis. The collected secondary data are analyzed by applying Descriptive statistics and Ordinary Least Square (OLS). The results of the study confirm the existence of seasonality in stock returns in India and prevalence of the day of the week effect in Indian Stock Market. |
Other Details |
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Paper ID: IJSRDV4I21676 Published in: Volume : 4, Issue : 2 Publication Date: 01/05/2016 Page(s): 1504-1507 |
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