The study looked at how easy it is to predict stock market returns in South Asian countries over time. They used a special test and price delay measures to analyze data from four stock markets. The results showed that it is possible to predict returns in these markets, especially for overall market returns and different sizes of companies. The ability to predict returns changes depending on factors like market conditions, company size, and how often stocks are traded. This supports the idea that markets adapt to new information quickly. The findings were consistent even when considering factors like low trading activity and using different methods to predict returns.