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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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Impact Factor : 8.14

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Paper Title: Market Anomalies and Individual Investors Reactions : A study of Calendar Anomalies in India
Authors Name: Jayashree Dhananjay Chaudhari , Dr. Nishant Ghuge
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IJRTI_205779
Published Paper Id: IJRTI2508084
Published In: Volume 10 Issue 8, August-2025
DOI:
Abstract: Market anomalies refer to patterns in stock returns that deviate from the predictions of traditional financial theories such as Efficient Market hypothesis which assumes investors as rational thinker and price fully reflects all available information in market. There are different types of market anomalies which are resulted due to changes in economic policies, market factors or psychological factors of individual investors. This study explores January effect, Holiday effect and Weekend effect in Indian stock market. Small cap Nifty index were used for analyzing January effect while Nifty 50 index was used for Holiday and weekend effect for 5 years from 2020 to 2024. The study applies statistical tools paired t-test through SPSS, to identify and evaluate result. The findings suggest that on an average we can find January effect, Weekend effect and Holiday effect. While applying paired t-test we found that results differ as p value is more that 0.05 at 95% confidence level in each effect which shows no strong evidence of persistence of January effect, Weekend effect or Holiday effect in Nifty stock market in India.
Keywords: Market anomalies, Nifty 50, January effect, Weekend effect, Holiday effect.
Cite Article: "Market Anomalies and Individual Investors Reactions : A study of Calendar Anomalies in India", International Journal of Science & Engineering Development Research (www.ijrti.org), ISSN:2455-2631, Vol.10, Issue 8, page no.a689-a695, August-2025, Available :http://www.ijrti.org/papers/IJRTI2508084.pdf
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ISSN: 2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publication Details: Published Paper ID: IJRTI2508084
Registration ID:205779
Published In: Volume 10 Issue 8, August-2025
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Page No: a689-a695
Country: Jalgaon/Jalgaon, Maharshtra, India
Research Area: Management
Publisher : IJ Publication
Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2508084
Published Paper PDF: https://www.ijrti.org/papers/IJRTI2508084
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED, Journal Starting Year (ESTD) : 2016

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