• KIRAN KUMAR P N
• Dr. K NIRMALA

The denial of the Efficient Market Hypothesis (EMH) is a calendar anomaly. Stock market anomalies are the patterns that more often than not seem to produce abnormal returns because the information is the basis for some of these patterns that is readily available to the public, they pose a challenge to the semi-strong method of the Efficient Market Hypothesis and this suggests that fundamental analysis can be useful for individual investors. Numerous research studies have examined the existence and prediction of stock market anomalies to find empirical proof of asymmetrical yield distribution. The behaviour of seasonal returns is predictable, which could result in effective trading techniques and anomalous returns. The current research paper focuses on the Monday anomaly persists in the stock market specifically focused on the index of National Stock Exchange for the period ranging from 01-07-2022 to 30-06-2023. The analysis of the returns is carried out using Descriptive Statistics and the Pearson Correlation test and Augmented-Dickey Fuller test (ADF) are used to find the presence of Monday anomaly and stationarity of the data respectively

Abnormal returns, Indian Stock Market, Efficient market hypothesis, Monday Anomaly.

"“A Study on the efficiency of the Indian stock market with special reference to the day of the week effect”", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 12, page no.f400-f405, December-2023, Available :http://www.jetir.org/papers/JETIR2312547.pdf

"“A Study on the efficiency of the Indian stock market with special reference to the day of the week effect”", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 12, page no. ppf400-f405, December-2023, Available at : http://www.jetir.org/papers/JETIR2312547.pdf