*Fakir Chand College, University of Calcutta, Diamond Harbour, South 24 – Parganas – 743331, West Bengal, India
**University Grant Commission, India
IGNOU
Online published on 17 October, 2011.
Day of the week effect study is focused as a stock market anomaly on the equity market practices in India. The technique applicable in the present study consists of daily stock prices concerned to NIFTY Index, for the period April 2001 to March 2011. The working week for trade matters consist of five days. Study concludes that Tuesday returns are quite significant and positive. Hence it is inferred that there exists day effect in Indian stock market. The returns of Tuesday on an average are greater in comparison to rest of the days. The regression analysis is performed to meet the thrust of this study.
Stock returns, NIFTY, Monday Effect, Regression
