(35.172.223.251)
Users online: 2205    [ij] [ij] [ij] 
Email id
 

MUDRA: Journal of Finance and Accounting
Year : 2018, Volume : 5, Issue : 2
First page : ( 45) Last page : ( 59)
Print ISSN : 2347-4467. Online ISSN : 2395-2598.
Article DOI : 10.17492/mudra.v5i2.14329

Day of Week Effect in Indian Stock Markets

Chawla Vanitha

Assistant Professor, Shivaji College, University of Delhi, Delhi, India. E-mail: vanitha_2182@yahoo.co.in

Online published on 9 April, 2019.

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.

Top

Keywords

Day of week effect, Sensex, Market efficiency.

Top

  
║ Site map ║ Privacy Policy ║ Copyright ║ Terms & Conditions ║ Page Rank Tool
575,149,941 visitor(s) since 30th May, 2005.
All rights reserved. Site designed and maintained by DIVA ENTERPRISES PVT. LTD..
Note: Please use Internet Explorer (6.0 or above). Some functionalities may not work in other browsers.