DHARANA - Bhavan's International Journal of Business

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In 2012, the world economy is still showing signs of recovery and moderate growth in its performance. But amidst this, Indian security markets though seemed to be affected by recession, have shown no signs of remorse and have been seen to reach new heights. Between September 3rd - October 4th, Indian stock market indices showed phenomenal Bull Run breaching new heights. Majority of the analysts attribute this uptrend to the recent economic reforms announced by the union government and the steps taken by the RBI following the announcements. This study examines the impact of these announcements on the Indian stock markets. Twelve major indices of Indian stock markets listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and eight retail sector companies were considered for the study. The study concludes that the Indian stock markets are semi strong efficient and impact of economic reforms and the measures by RBI were found to be not factored in the prices of these indices in the short run.

Keywords

Economic Reforms, Liberalization, Recession.
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