This study seeks to discern the complexities in the stock market and makes an attempt to understand the importance of in the economic growth and development of the emerging economies. The study uses Markowitz theorem to understand the expected returns and risk in the stock market. It explicates that there is very significant level of systemic risk rather than non-systematic risk in the Indian stock market. This analysis also expounds that Indian investors are very intelligent in overcoming the systematic risk through their net selectivity skills. The Indian stock market also graduated to...