The present study compares the risk and return of the Nifty Shariah index and Nifty index at days, months and quarters wise during the period 2nd January 2007 to 31st December 2010. The raw returns of the both indices are calculated as today price minus yesterday price divided by yesterday...

We examine the performance of S&P CNX Nifty Shariah and S&P CNX Nifty index from 2nd January 2007 to 31st December 2009 by classifying the study period as overall period, bull market period and bear market period to capture the change in performance during stock market crisis. We measure the...