Abstract
Stock market is one of the major key driver of any economy and is affected by the externalities of the environment. Prediction of the stock market has been area of interest for many researchers. But for predicting the pattern a pattern needs to be found out so that a relationship can be established. Moscow Interbank Currency Exchange (MICEX) opened in 1992, it was the leading stock exchange. In December 2011 MICEX merged with Russian Trading system which led to the formation of Moscow Exchange. Tadawul All-Share Index (TASI) started in March 19, 2007. It is the only stock exchange in Saudi Arabia. It is supervised by Capital Market authority. By this study we are trying to show that the Russian Stock Market and the Saudi Arabia stock Market is closely correlated or not and which is affecting whom. Traces of Financial irregularity have been found.
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