1Assistant Professor, Dept. Of Management Studies, University of Delhi, New Delhi
2Research Scholar, Dept. Of Management Studies, University of Delhi, New Delhi
*Corresponding Author: E-mail: kalsie_anjala@yahoo.co.in
Online published on 5 February, 2016.
The objective of this paper is to study the efficiency of Indian stock markets during the period 2001–2011. The weak form of efficient markets is extensively tested using NIFTY and 6 major NSE sectoral indices Pharma, IT, MNC, Bank, FMCG and Nifty Junior. Univariate time series analysis of indices returns is carried using tests for randomness/non-stationarity-runs test, unit root testing. ACF, correlograms and other relevant statistical methods. The study concludes that Indian markets are inefficient in its weak form for the study period.
Efficient market, Efficient market hypothesis, Random walk theory, Runs test, Auto correlation test
