Equity Share Price Returns of Selected Sample Banks Listed in Bombay Stock Exchange Bankex: Review

Abstract

The present study is an attempt to assess whether the daily share price returns of the selected banks listed in Bombay
Stock Exchange Bankex are efficient in weak form or not. For the purpose of analysis, ten Banks listed in Bombay Stock
Exchange Bankex as on 18th August 2017 were selected. The daily share price returns of the selected sample Banks were collected
from the website of Bombay Stock Exchange. The weak form efficiency of selected banks listed in Bombay Stock Exchange from
1st April 2007 to 31st March 2017, were analyzed using Descriptive statistics, Augmented Dickey Fuller Test, Phillips Perron Test
for Stationarity, Autocorrelation, Normality test using Kolmogorov- Smirnov and Shapiro –Wilk Test and Runs Test (Mean and
Median base). The findings of the study indicated that there were no continuous upward and downwards trend of share price
returns of selected sample banks listed in Bombay Stock Exchange Bankex, so the daily share price returns of sample Banks are
not random during the study period.