Market efficiency is examined in three forms: weak form, semi-strong form and strong form and each one deals with a different source of information. 1. Weak form efficient market - the prices of securities fully reflect all historical information and no excess returns can be earned by utilising...

In this study, we used event study methodology to examine stock price reactions to quarterly earnings announcement. The study is based on a sample of 146 companies listed on Bombay Stock Exchange and December 2000 quarterly earnings announcements are taken event. The abnormal performance is...

The National Stock Exchange of India Ltd (NSE) introduced opening Call Auction (CA) on 18th October 2010 on Nifty stocks. The objective of CA is to discover the efficient opening price and increase market quality. We hypothesise that the CA leads to efficient price discovery. To examine price...