Published Paper Details:

This article investigates the weak form of the efficient market hypothesis for the Indian stock market during Covid19 by considering the performance of the five indices of BSE Ltd, including benchmark index Sensex and four-market capitalization based indices. The indices selected for this study purpose are Sensex, BSE All cap, BSE Large cap, BSE Mid cap, BSE Small Cap. Due to the increasing rate of Covid19 positive cases, the central government of India announced the 21days lockdown in India on 24 March. However, the first case of corona virus was detected in December 2019 by WHO and the virus had started affecting the world from January 2020. For this study purpose we have considered the data during the pandemic period. Eight months data has been taken for the study ranging from 1st January 2020 to 31 August 2020. In this study, the calculation for market efficiency has conducted by using some statistical tools namely Unit root test, Descriptive statistics, Run test and BDS test. The result of the study reveals that the indices are not following a random walk, which means the market was inefficient in weak form during the study period.