Table 3: Stationarity test results.

IndicesADF(p) statistic value (critical value) for the ADF testPP(L) statistic value (critical value) for the PP test

cse-all−0.9888(2)0.9434(−3.4144)−1.13(12)0.9227(−3.4144)
cse-30−1.2330(4)0.9022(−3.4144)−1.29(10)0.8877(−3.4144)

p” and “L” indicate lag order to remove serial correlation.
Decision rule: If value < level of significance ( ), then accept null hypothesis.