• TARUN SAINI
• MONA

This paper examines the serial independence of short-run changes in the prices of securities to check the efficiency of the Indian capital market in assimilating information. For the purpose of analysis, the top 50 companies of BSE 100 have been selected. The weekly average share price of the selected companies have been collected from January 2009 to December 2018. The result clearly shows that for the time period selected, the selected companies’ stock prices do not exhibit random walk behavior.

Efficient market hypothesis, Random walk, Run test, Serial Correlation.

"Testing for the Random Walk Behaviour of Share Prices in India: An Empirical Study", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 3, page no.224-233, March-2019, Available :http://www.jetir.org/papers/JETIR1905636.pdf

"Testing for the Random Walk Behaviour of Share Prices in India: An Empirical Study", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 3, page no. pp224-233, March-2019, Available at : http://www.jetir.org/papers/JETIR1905636.pdf