[enter The world of today is high frequency data driven and characterized by the application and use of information technology for better business development and decision making. The price movements of stock markets are mainly influenced by micro and macro economic variables, legal framework...

Calendar Anomalies in the stock market are those patterns that cannot be explained by traditional asset pricing models. Examples of such patterns include the January Effect, the Day-of-the-Week Effect, and the Week of the Month Effects. These anomalies allow investors to develop trading...