The present study empirically examines the risk and return of the Nifty Shariah index and Nifty index during the period 2nd January 2007 to 31st December 2010. The sample period is further divided into bull market period and bear market period based on the movement of the both indices during the...

Islamic investment is an emerging investment alternative even to withstand during financial turbulence. It is being demanded high in recent past because of its unique nature of socially responsible investment. This paper has examined the day of the week effect and weekend effect of S&P CNX Nifty...