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Impact of Demonetization on Stock Market Efficiency: A Study of BSE SENSEX and NSE NIFTY Index

H.S. Saluja1

Section:Research Paper, Product Type: Journal Paper
Volume-06 , Issue-09 , Page no. 94-97, Nov-2018

CrossRef-DOI:   https://doi.org/10.26438/ijcse/v6si9.9497

Online published on Nov 20, 2018

Copyright © H.S. Saluja . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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IEEE Style Citation: H.S. Saluja, “Impact of Demonetization on Stock Market Efficiency: A Study of BSE SENSEX and NSE NIFTY Index,” International Journal of Computer Sciences and Engineering, Vol.06, Issue.09, pp.94-97, 2018.

MLA Style Citation: H.S. Saluja "Impact of Demonetization on Stock Market Efficiency: A Study of BSE SENSEX and NSE NIFTY Index." International Journal of Computer Sciences and Engineering 06.09 (2018): 94-97.

APA Style Citation: H.S. Saluja, (2018). Impact of Demonetization on Stock Market Efficiency: A Study of BSE SENSEX and NSE NIFTY Index. International Journal of Computer Sciences and Engineering, 06(09), 94-97.

BibTex Style Citation:
@article{Saluja_2018,
author = {H.S. Saluja},
title = {Impact of Demonetization on Stock Market Efficiency: A Study of BSE SENSEX and NSE NIFTY Index},
journal = {International Journal of Computer Sciences and Engineering},
issue_date = {11 2018},
volume = {06},
Issue = {09},
month = {11},
year = {2018},
issn = {2347-2693},
pages = {94-97},
url = {https://www.ijcseonline.org/full_spl_paper_view.php?paper_id=506},
doi = {https://doi.org/10.26438/ijcse/v6i9.9497}
publisher = {IJCSE, Indore, INDIA},
}

RIS Style Citation:
TY - JOUR
DO = {https://doi.org/10.26438/ijcse/v6i9.9497}
UR - https://www.ijcseonline.org/full_spl_paper_view.php?paper_id=506
TI - Impact of Demonetization on Stock Market Efficiency: A Study of BSE SENSEX and NSE NIFTY Index
T2 - International Journal of Computer Sciences and Engineering
AU - H.S. Saluja
PY - 2018
DA - 2018/11/20
PB - IJCSE, Indore, INDIA
SP - 94-97
IS - 09
VL - 06
SN - 2347-2693
ER -

           

Abstract

Demonetization may affect the various sectors of the Indian economy. As Demonetization affect liquidity in the economy that impacted economic activities. The change in the money supply in any economy might have affected the performance of its various sectors and might affect the Stock Market Efficiency. So, the present study empirically examines the Weak Form of Market Efficiency changes of BSE SENSEX Index and NSE Nifty Index of Indian Stock Market, due to demonetization. For this purpose daily returns of BSE SENSEX Index of Bombay Stock Exchange (BSE) and CNX Nifty Index of National Stock Exchange (NSE) will be considered.

Key-Words / Index Term

Demonetization; Bombay Stock Exchange, National Stock Exchange, Weak Form of Stock Market Efficiency, BSE SENSEX Index; NSE Nifty Index

References

[1]. P. Waknis, “Demonetisation: Some Theoretical Perspectives”, Retrieved from MPRA: https://mpra.ub.uni-muenchen.de/id/eprint/76391
[2]. E. Fama, “The Behaviour of Stock Market Prices”, Journal of Business, Vol. 38, pp. 34-104, 1965.
[3]. E. Fama, “Efficient Capital Markets: A Review of Theory and Empirical Work”, Journal of Finance, Vol. 25, pp. 383-417, 1970.
[4]. B. Maskay, “Analyzing the Effect of Change in Money Supply on Stock Prices”, The Park Place Economist, Vol.15, pp. 72-79, 2007.
[5]. K. Raymond, “Is There a Long Run Relationship between Stock Prices and Monetary Variables? Evidence from Jamaica. Bank of Jamaica”, Financial Stability Department, Kingston, 2009.