Day of Week Effect in Indian Stock Markets
Journal Title: MUDRA: Journal of Finance and Accounting - Year 2018, Vol 5, Issue 2
Abstract
The present study examines the day of week effect in Indian stock markets. The stock returns data of 17 indices have been collected from BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) for the sample period from April 2009 to June 2018. Descriptive statistics explains the characteristics of returns distributions of trading days of week. Using regression with dummy variables the results indicate significant positive returns on Monday for the all the selected indices under the sample period. It is concluded that the day of week effect is present in the Indian stock markets and markets are inefficient.
Authors and Affiliations
Vanitha Chawla
Keywords
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- EP ID EP625781
- DOI 10.17492/mudra.v5i2.14329
- Views 185
- Downloads 0
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