The Indian stock market returns are largely speculative in nature. Taking twenty stocks off of the Sensex, the Total return of the stock was split into the fundamentally arising returns and the speculative return. This revealed the speculative nature of the Indian Stock market. What this means is that, the good stocks with strong fundamentals may have a low total return as a result of low speculative returns, similarly fundamentally weak stocks may potentially have high speculative returns, resulting in high total returns. Thus, a bifurcation of this sort can help investors with different investment objectives, horizons and risk appetite, invest to achieve their goals.
Behavioral Biases, Stock Market Returns, Speculation, Time-bound Returns
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