| Time series | Test statistic | P-value | Critical values | Durbin-Watson | |
| 1% | 5% | Test | |||
| Augmented dickey fuller test |
| ||||
| NSE prices | −2.354 | 0.155 | −3.3439 | −2.865 | 2.130 |
| NSE return | −28.042* | 0.000 | −3.439 | −2.865 | 1.991 |
| Phillips perron test |
| ||||
| NSE prices | −2.357 | 0.154 | −3.3439 | −2.865 | 2.130 |
| NSE return | −28.043* | 0.000 | −3.439 | −2.865 | 1.991 |