| Article ID: | iaor199618 |
| Country: | India |
| Volume: | 20 |
| Issue: | 2 |
| Start Page Number: | 43 |
| End Page Number: | 52 |
| Publication Date: | Apr 1995 |
| Journal: | Vikalpa |
| Authors: | Belgaumi M.S. |
| Keywords: | finance & banking, time series & forecasting methods |
Based on an analysis of 70 companies listed in the ‘A’ list category on the Bombay Stock Exchange, this paper is an attempt to test the weak form efficiency of the Indian stock market. By subjecting the weekly share prices to Serial Correlation Analysis and Runs Test, the author finds that the Indian stock exchanges are efficient in the weak form and that the independence assumption regarding the movements of share prices over short period holds good.