Shariah Compliant stocks as wealth creation Tool Kumar Santosh Assistant Professor School of Management, IMS Unison University, Makawala Green, Mussoorie diversion road, Dehradun (UK), India, Pin-24800 JEL classification: D92, P33, P45, E62 Online published on 22 June, 2018. Abstract The Shariah compliant stocks, which adhere the Shariah Investment principles. Shariah investment is rising gradually in India for the last two-three decades. An empirical examination on risk and return behavior has been conducted on the selected Shariah Compliant Stocks and benchmark indices during the period of 6 years from Jan 2006 to Dec 2011, which cover period prior during and after financial crisis. T-test, CAPM to estimate β, and correlation Matrix calculation has been done on the closing prices of stocks and Shariah index of NSE, NIFTY and Sensex. The study find the similarity of average returns of the Shariah Compliant Stocks and benchmark indices, average return of the Shariah index and Stock index in India during the study period were also highly resembled. Hence, the study reveals that the Viability of equity based Shariah Compliant as investment avenue. Top Keywords BSE, Islamic Investment, NSE, NIFTY, SENSEX, Shariah Index. Top |