Price Pressure Hypothesis: Evidence from S & P CNX NIFTY Index Changes

Kumar, S.S.S.

dc.contributor.author	Kumar, S.S.S.
dc.date.accessioned	2015-04-22T09:21:44Z
dc.date.available	2015-04-22T09:21:44Z
dc.date.issued	2007
dc.identifier.uri	http://hdl.handle.net/2259/391
dc.description	Metaurorphosis Vol. 6 No.I, 2007	en_US
dc.description.abstract	This paper considers the effects of changes in the composition of the Nifty and Jr. Nifty index for the period 1996-2003. The study finds no significant price effects on the announcement day. However price effects were observed only for the Nifty index on the effective day, which were subsequently reversed by the ninth day. Similar results were found for the Nifty icictions too. For the Jr. Nifty, no price effects were observed either on announcement day or on the effective day-for both inclusions as well as exclusions. There were no abnormal volumes associated with price effects for the Nifty index. Since the is-ice effects are confined only to Nifty and were absent for the Jr. Nifty, certification effect may he ruled out. There is pm/,;n support for the price pressures hypothesis.	en_US
dc.language.iso	en	en_US
dc.publisher	Journal of Indian Institute of Management, Lucknow	en_US
dc.subject	Excess returns	en_US
dc.subject	Changes in indices	en_US
dc.subject	Event study	en_US
dc.subject	Price and volume effects	en_US
dc.title	Price Pressure Hypothesis: Evidence from S & P CNX NIFTY Index Changes	en_US
dc.type	Article	en_US