Frequency Domain Analysis of Nigeria All Share and Capital Index from 1989-2010 (A Case Study of Nigerian Stock Market)

In recent years the method of wavelet analysis has been opened to researchers. It is analyses data at different level decomposition and can capture characteristics series in all level. this research work, was collected on Nigerian stock index for All Share Capital market indexes (1989-2010). The were analyzed by detect aberrant observations (AOs) over period under study two indexes. Akaike information criterion (AIC) also used ‘best model’ using some distributions. A total seventeen eleven AOs detected from original Market respectively. first, second third resolutions, a four, index, while five, four three that index. results obtained showed maintain same or closely positions as decomposed observed stocks March, July December are more less February, November AIC show that, Cauchy distribution smallest values among distributions used, which means model’.