An empirical analysis of day of theweek anomaly on the trading activities of institutional investors in Indian equity instruements Sehdev Razia1,3, Dr. Bhatnagar Yuvraj2 1Designation: Research Scholar at Mewar University, Chittorgarh, Rajasthan, India 2Designation: Director at KCMT College, Bareilly, Uttar Pradesh, India. Email address: director.kcmt@gmail.com 3Assistant Professor at Lovely Professional University, Jalandhar, Punjab, India. Email address: razia28sehdev@gmail.com, razia.23646@lpu.co.in Online published on 2 April, 2019. Abstract The present study is examining and comparing the trading activities of FIIs and IMFs across the week days. Through the present study, the researchers have made an endeavor to enrich the present literature related to efficient market hypothesis, day of the week anomaly present in trading behavior of FIIs and IMFs across week days. The researchers have undertaken the study by analyzing the daily purchasing, selling and net investing activities of FIIs and IMFs in Equity Instruments of Indian Securities Market for the last 17.5 years beginning from January 1, 2001 and ending on June 30, 2018. The researchers have attempted to achieve two objectives viz. examining the day of the week effect on trading activities of FIIs and IMFs and comparing the trading pattern of FIIs and IMFs of individual trading day with the rest of the weekdays with the help of ANOVA and Independent Sample t-test. It is determined empirically in the present study that whether it is Foreign or Domestic Institutional Investors, there is day of the week effect present on their behavior. Monday, Friday and Thursday are ascertained to have the most significant effect on the trading activities of Institutional Investors. Top Keywords Anomaly, Day of the week anomaly, Efficient Market Hypothesis (EMH), FIIs, IMFs, Trading Activities. Top |