A Random Walk Model for Sectoral Indices in Indian Context- A Study with Special Reference to Bombay Stock Exchange Indices
R. Rajesh Ramkumar1, P.S. Joan Kingsly2

1Dr. R. Rajesh Ramkumar, Assistant Professor, Department of Business Administration, Ayya Nadar Janaki Ammal College, Sivakasi, Tamil Nadu, India.

2P.S. Joan Kingsly, Assistant Professor, Department of Institute of Management, Joseph’s College, Tiruchirappalli, Tamil Nadu, India.

Manuscript received on 15 May 2019 | Revised Manuscript received on 22 May 2019 | Manuscript Published on 10 July 2019 | PP: 332-338 | Volume-8 Issue-7C2 May 2019 | Retrieval Number: G10720587C219/19©BEIESP

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Abstract: A inventory market, fairness marketplace/percentage market is the aggregation of customers and sellers of stock, which represents possession claims on companies. Capital market is a place in which buyers should purchase and sell their securities. The Indian inventory marketplace has witnessed usaand downs like one-of-a-kind developing markets. The Capital marketplace has an impact on numerous agencies like customers, authorities and masses of others and the inventory marketplace comes to a preference the fortune of the u . S . A .. It have to be well monitored continuously. it’s miles vital that the funding want to be finished intelligently. The Sectoral Index evaluation of stock change is a summary of the financial factors. The Sectoral Index evaluation quantifies the essential thing parameters of the Indian monetary device. Capital market performance measures the volume of the accuracy of the inventory’s charge. This paper investigates the random walk speculation in pattern Sectoral Indices and shares of Bombay Stock Exchange (BSE) for the study period of 2008 to 2018. The aim of this study was to examine the randomness of the sample indices share price returns listed in BSE. The study found that the results of sample companies do not follow the random distribution during the study period.

Keywords: Random Distribution, Indian Stock Market, Bombay Stock Exchange and Sectoral Indices.
Scope of the Article: Process and Workflow Management