The study looked at how stock index futures affect stock market prices in Malaysia. They found that during times of high volatility, stock index futures lead stock market returns by two days. There is a connection between trading volume and returns in the futures market, with volume affecting returns during certain periods. The study also discovered patterns related to the day of the week, week of the month, and month of the year in the Malaysian stock index futures market. The findings suggest that monitoring stock index futures returns can help predict stock market movements.