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Journal of Management Research and Analysis


After-hour trading influence on price discovery of Indian equity market for year 2017 and 2018


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Research Article

Author Details : Meet Jignesh Shah*, Vaibhav Ajit Shrivastava

Volume : 6, Issue : 2, Year : 2019

Article Page : 116-119


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Abstract

The paper examines the influence of after-hour trading on sixteen sector wise indices listed on National Stock Exchange of India Limited for year 2017 & 2018. We establish two independent conditions based on daily opening, closing, high & low prices during market hours for indices & listed index companies for each year. Our findings indicate that influence of after-hour trading on Indian equity market for year 2017 is higher than that of year 2018 based on individual listed companies performance under their respective sector wise index when the price of equity rises over previous market day in accordance with condition 1. However, the study suggests that there is no clear indication for after-hour trading influence on Indian equity market between year 2017 & 2018 when the equity price fell in comparison to previous market day in accordance to condition 2.

Keywords: Price discovery, NIFTY, NSE, After-hour trading, After Market Order (AMO).

Doi : 10.18231/j.jmra.2019.022

How to cite : Shah M J, Shrivastava V A, After-hour trading influence on price discovery of Indian equity market for year 2017 and 2018. J Manag Res Anal 2019;6(2):116-119

Copyright © 2019 by author(s) and J Manag Res Anal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC-BY-NC 4.0) (creativecommons.org)