Study of the Weak Form of Market Efficiency: An Empirical Study of Indian Stock Market

2012 ◽  
Vol 1 (2) ◽  
pp. 37-45 ◽  
Author(s):  
Anjala Kalsie
Keyword(s):  
Stock Market ◽  
Empirical Study ◽  
Market Efficiency ◽  
Weak Form ◽  
Indian Stock Market

scholarly journals Market Efficiency and Integration: An Examination of Indian Stock Market

2003 ◽  
Author(s):  
Chandra Shekhar Bhatnagar
Keyword(s):  
Stock Market ◽  
Market Efficiency ◽  
Stock Price ◽  
Price Index ◽  
Weak Sense ◽  
Weak Form ◽  
Strong Form ◽  
Emerging Stock Markets ◽  
Stock Price Index ◽  
Indian Stock Market

This paper examines the efficiency and integration of the Indian stock market. The weak form of efficiency has been tested by studying the stationarity characteristics of theMSCI Stock Price Index of India. For testing the semi-strong form of efficiency and integration of the Indian Stock Market with the macro phenomenon of emerging stock markets of the world, the causality between the MSCI Stock Price Index of India and the MSCI EMF Index has been studied. The results point out that the Indian Stock Market is efficient in its weak sense. However, the same is not true for the semi-strong form of market efficiency. Therefore, the utility of a forecasting model having the macro phenomenon (MSCI EMF Index in the present case) as a forecasting variable cannot be ruled out.  

An Empirical Analysis of Behaviour of Stock Market Indices

Paradigm ◽  
2016 ◽  
Vol 20 (2) ◽  
pp. 216-235
Author(s):  
Sushil Bajaj ◽  
Naman Sethi
Keyword(s):  
Hong Kong ◽  
Stock Market ◽  
South Korea ◽  
Market Efficiency ◽  
Information Disclosure ◽  
Weak Form ◽  
Market Size ◽  
Statistical Tools ◽  
Potential Factors ◽  
Indian Stock Market

The present study aims to investigate the presence or absence of weak form market efficiency and unriddle the potential factors impacting the chaotic pattern of the stock market. The study carries the analysis by considering 12 countries’ indices categorized as developing and developed on the basis of their GDP. Five econometric tools were applied for accomplishing the objectives and it was evidenced that the American and Indian stock market are weak-form inefficient whereas most of the statistical tools adjudged three countries (i.e., Hong Kong, Singapore & South Korea) weak-form efficient. It was also unveiled in the study that settlement cycle, information disclosure, thinness of trading, trading hours, and market size could be the potential reasons impacting the weak form of efficiency of the stock market.

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