Study of Seasonality in the Indian Stock Market - 21577 Words

| FINANCE TESTING SEASONALITY IN THE INDIAN STOCK MARKET A Project Report submitted in partial fulfillment of the requirements for the Degree of Master of Business Administration Under the guidance of: Dr. S.K. Tuteja Submitted by: Sachin Garg F-045, MBA(FT) 2011-13 Faculty of Management Studies University of Delhi Delhi – 110007 CERTIFICATE This is to certify that this project report titled â€Å"Testing Seasonality in the Indian Stock Market†, submitted in partial fulfilment of the requirements for the degree of Master of Business Administration, is based on my original research work under the guidance of Dr. S.K. Tuteja. The report has not been submitted elsewhere for any other purpose. All references used have†¦show more content†¦The two indices under study are the Samp;P Nifty and Sensex. This study conducts a statistical analysis of the daily and monthly data for both Nifty and Sensex for the period April 1, 2001 to December 31, 2012. The study found that the Day of the Week Effect and Monthly Effect Pattern did not appear to exist in the Indian Stock Market during the study period. Chapter 1: INTRODUCTION Capital market is now playing a strategic role in a country’s economic growth. It facilitates the exchange of funds between company as demander and investor as supplier. The existence of capital market enables company to obtain an alternative source of fund. On the other hands, it gives flexibility for investor to choose investment based on their preference. For both company and investor who are involved in the capital market, understanding about capital market condition becomes matter in order to understand how the market is actually works. One aspect of capital market conditions that might become consideration before deciding to invest is the market efficiency. The term of market efficiency, which is found in the capital market literature, is used to elaborate the relationship between the information and the share price. In 1970, Fama proposed the Efficient Market Theory and defined capital market efficiency as the market in which prices fully reflect all available informati on. Depending on theShow MoreRelatedWhat Does Calendar Anomaly Exist? Stock Market Of Both Developed And Developing Countries1701 Words   |  7 PagesThis study is focused to determine if calendar anomaly exist in stock market of both developed and developing countries. The former is represented by SP 500(Standard and Poor) from USA while the latter is represented by BSE (Bombay Stock Exchange) from India. The daily data of stock return was collected for the time – period of July 1998 to December 2013, and analyzed using single factor ANOVA (Analysis of Variance) and two sample t-test of equal variance. 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