Abstract
Informational efficiency of the Stock market is an important parameter to determine the effectiveness of a financial system, especially in the Indian context. The efficiency of Indian stock markets, especially the leading stock exchange of India – the National Stock Exchange (NSE), attracts the attention of researchers in view of recent instability in investment levels and the global financial turmoil. This paper therefore, attempts to seek evidence for the weak form efficient market hypothesis using the daily data for two stock indices of NSE i.e. S&P CNX Nifty and Nifty Junior from the National Stock Exchange for the period 1st January, 2000 to 31st December 2009. We have used Kolmogrov–Smirnov test and Run test which is a non-parametric test and a Unit Root Test, which is a parametric test to examine weak-form market efficiency
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