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Further Evidence on Weak Form Efficiency in the Indian Stock Market

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  • S.S.S. Kumar

Abstract

The important function of stock market is to allocate funds to the most productive sectors of the economy. Stock markets must be efficient in the sense that an investor cannot gain abnormal profit consistently based on some trading rule in predicting the stock price. The purpose of this study is to investigate whether the trends in some selected Asian stock markets viz., Hongkong, Singapore, Japan and Philippines can be used to predict stock price trends in India. This study examines the Indian stock market's efficiency in the cointegration frame work. The results indicate that Indian Stock market is weak form efficient.

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  • S.S.S. Kumar, 1999. "Further Evidence on Weak Form Efficiency in the Indian Stock Market," Paradigm, , vol. 3(1), pages 91-98, January.
    • Handle: RePEc:sae:padigm:v:3:y:1999:i:1:p:91-98
    DOI: 10.1177/0971890719990110
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