Testing Of Market Efficiency In The Weak-form Taking Cnx Nifty As A Benchmark Index: A Study
Abstract
Efficient Capital Market Hypothesis envisages three Forms of Capital market Efficiency: Weak Form, Semi-Strong and Strong Form. Efficiency of the capital markets is a determining factor for long term investors. While Inefficient market efficiency breeds speculation, price rigging and abnormal gains for some and creates , it creates a more space for trust deficit among investors and such trust vacuum is more visible after market crashes technical analysts to prowl upon in the market.. Testing of Market efficiency in any form has always contributed to the body of knowledge on capital market efficiency. The present study is also a humble attempt in this direction. Taking a S
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