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Following are the closing prices of an ETF that follows NIFTY IT for the last 21 active (daily) sessions (in Rs.): 308.74, 308.8, 312.17, 309.45,

Following are the closing prices of an ETF that follows NIFTY IT for the last 21 active (daily) sessions (in Rs.):

308.74, 308.8, 312.17, 309.45, 309.41, 305.25, 298.98, 298.1, 296.17, 297.03, 285.75, 293.52, 288.9, 287.6, 287.8, 286.5, 288.1, 290.7, 297.3, 302.7, 301.1

Considering the above to be the market values, compute the market returns. Taking risk-free annual interest rate to be 5.65%, fit two separate CAPM models for Infosys and TCS returns. Discuss your interpretation of the values.

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