Functional Instability or Paradigm Shift?: A Characteristic Study of Indian Stock Market in the First Decade of the New Millennium

The study investigates the working of the Indian sk market in recent years and attempts to look for functional instability, if any, embedded in the sk market. Specifically, it explores to discern whether there been any significant change in recent years in Indian sk market and the nature and characteristics of such changes, if any. It chooses the nine year period from 1999 to 2008. Over this period, sk market witnessed some major price changes: one in late 1999 that ended in mid 2001, anoth...