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  • 2015 Spring: Volume 14, Issue 1
  • An Analysis of the Advance-Decline Indicator in the Indian Stock Market

    • Jayen B. Patel

    Title:

    An Analysis of the Advance-Decline Indicator in the Indian Stock Market

    Author(s):

    Jayen B. Patel

    Publication Date:

    2015

    Journal Title:

    The Journal of Finance Issues

    Volume Number:

    14

    Issue Number:

    1

    Abstract:

    This study examines predictive ability of the advance-decline indicator in the Indian stock market. Several lagged values of advance-decline ratios were calculated to examine predictive ability of these ratios on future stock return. The results demonstrate advance-decline indicator is not effective in predicting future stock return in the Indian stock market. The results were consistent when lagged values of advance-decline ratios were separated by higher and lower values for prediction purposes. Therefore, the results of this study provide support to the theory of market efficiency in the Indian stock market.

    First Page:

    1

    Last Page:

    11

    Total Pages:

    11