This paper examines the weak form efficiency of the companies included in the BSE 100 index as on March 31, 2001 by applying serial correlation and run test. The analysis has been done for three years, i.e., 1998-1999, 1999-2000 and 2000-2001 taking the sample of share prices from April 1 to...

The weak form of efficient market hypothesis states that the share prices neither have a long memory nor a short memory. Long memory is characterized by non-periodic dependence in a financial time series over a long span of time. This paper examines the long memory of the Indian stock market by...