摘要：According to economic laws, fluctuation in the stock market is inevitable, but it should basically be in synch with the situation of the economy. An "Efficient Market" is defined as a market where there are large number of rational profit makers actively competing with each trying to predict future market values of individual securities, and where important current information is almost freely available to all the participants. The present study tries to explore the way of investors approaching in the market based on the objective of day of the week effect. This study shows that the results are found to be consistent, that the weekend effect is driven by Institutional investors trading pattern. The paper further instigates the study of day of the week effect in the trading pattern for the period of three years (2011-14). To arrive at conclusion we used autocorrelation test and variance ratio test. The results showed that there exists inefficiency in the day of the week return.
