In this blog, the author explores the applicability of one of the famous statistical analogies put forward by Simon Newcomb over the monthly average index prices for BSE BANKEX between 2003 and 2018. The primary objective of this blog is to provide an idea to the community of researchers focusing on the Indian economy for applying Benford’s law to Indian equity markets in order to capture anomalies in asset prices for analysing artificial growth. In order to do so, an initial idea of applying cobweb model to trade transactions is proposed for gauging the market equilibrium. 

The rise of retail investors in India's secondary equity market presents a growing concern. While discussions focus on shifts in savings habits and the decline in bank deposits, this blog highlights the potential issue of irresponsible shareholder behaviour. Corporate influence and the lack of understanding about financial statements can lead to significant problems. This blog explores the need for responsible shareholder practices and suggests potential areas for further study, such as psephology. An example of shareholder negligence in adopting audited financial statements is used to illustrate the point.