The interdisciplinary studies relating to Indian astrological concepts and financial trading strategy are very scant, wherefore, this study helps to unearth an anomaly-based trading strategy for the individual and institutional investors in the capital market. ![]() ![]() Further, the study employs EGARCH (1,1) models to inspect the leverage effect in the market returns and the impact of the retrogratory movement of mercury on market returns. This research utilizes secondary data retrieved from Bloomberg from 1998 through 2018 of Nifty50 and BSE Sensex on a daily closing basis. This paper presents and probes, whether the usually described phenomenon of the retrogratory effect of planets in Indian astrology persists in Indian stock indices. Purpose of the study is to analyse the retrograde effect of mercury on Indian stock indices, i.e., Nifty50 and BSE Sensex.
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