  The efficiency of the stock market has a significant impact on the potential
return on investment. An efficient market eliminates the possibility of
arbitrage and unexploited profit opportunities. This study analyzes the weak
form efficiency of the Indian Stock market based on the two major Indian stock
exchanges, viz., BSE and NSE. The daily closing values of Sensex and Nifty
indices for the period from April 2010 to March 2019 are used to perform the
Runs test, the Autocorrelation test, and the Autoregression test. The study
confirms that the Indian Stock market is weak form inefficient and can thus be
outperformed.
