This study is aimed to explore the Islamic calendar anomaly or lunar effect over the period of eleven years commencing from Zilhajj 1429 (January 2007) to Muharram 1440 (September 2018) on daily historical returns. This study has identified the essence of weak-form Efficient Market Hypothesis Fama (1965) in Pakistan, Turkey, Malaysia, Bangladesh, Iran, Egypt, Saudi Arabia, and Dubai. Moreover market return behavior and seasonal effects are identified by using the dummy regression model. It is identified that anomalous behavior is reality in long run aptitude in all Islamic economies and the average behavior is reflecting that markets have been inspired by the seasonal effects. Overall the market behavior reflects weak form of efficiency except Iran and Bangladesh. It is identified that the Gregorian Calander is static but the lunar calendar is dynamic and go across all the weathers. Weathers and temperatures may affect perception and psychology of investor.

The study highlights the social and physical entrapments of women in two novels: Bapsi Sidhwa’s Ice-Candy Man and Arundhati Roy’s The God of Small Things. Both writers belong to two different cultures. Bapsi Sidhwa is a Punjabi, Parsi, Pakistani novelist while Arundhati Roy is an Indian Author. Regardless of their different cultures, they have discussed similar issues faced by women of their contemporary societies. This case study adopted exploratory research framework to gather data and undergo its content analysis from the text of two selected novels. The findings explicate that woman exploitation can be observed evidently among different societies irrespective of any culture, religion, caste or creed. In both novels, women are represented as shallow creatures and they are utterly victimized physically as well as emotionally. They are raped and beaten brutally by males being their unbidden masters. Sidhwa and Roy enlighten the plight of women in their novels, though slight elements of unjust maltreatment of the male characters can also be seen at many places.