TY  - JOUR
T1  - Efficiency of Sectoral Indices: A Comparative Study on BSE and NSE Ltd.
AU - Selvam, M. AU - Rajesh Ramkumar, R. AU - Raja, M. AU - Lingaraja, K. AU - Vasanth, V. 
JO  - International Business Management
VL  - 9
IS  - 3
SP  - 258
EP  - 266
PY  - 2015
DA  - 2001/08/19
SN  - 1993-5250
DO  - ibm.2015.258.266
UR  - https://makhillpublications.co/view-article.php?doi=ibm.2015.258.266
KW  - Sectoral analysis
KW  -BSE indices
KW  -NSE indices
KW  -random walk and market efficiency
AB  - The sectoral analysis is typically employed by investors who 
  plan to select better stocks to invest. Investors normally identify the most 
  promising sectors and review the financial performance of companies within the 
  sector to determine which individual stock would provide better returns and 
  purchase such stocks ultimately. The study of sectoral efficiency could provide 
  useful input to the investors to identify the efficient sectors and to channel 
  the available resources into the profitable sectors. This study tested the efficiency 
  of two major stock exchanges, namely BSE and NSE sectoral indices by using daily 
  share price returns. This study measured the random distribution and weak form 
  efficiency in BSE and NSE sectoral indices. The analysis consisted of descriptive 
  statistics, runs and autocorrelation test. The runs test indicated that the 
  market did not follow random distribution.
ER  -