Stock markets are known as stock markets and markets for trading shares. Stock exchanges are markets where government and industry can raise long-term capital and investors can buy and sell securities. Stock markets grew in response to demand for funds to finance investments (especially in the early stages) in foreign trade. The world has changed dramatically in recent years and new markets have emerged to compete with existing new markets. The following bar chart details the relative size of emerging stock markets around the world based on total number of shares (market capitalization). The stock market has two markets where the primary market, companies issue new shares and a secondary market where all trading takes place. An efficient stock market is described as "one in which information is processed quickly and accurately and therefore the stock process faithfully reflects all relevant information." In simpler terms, prices show the best estimate or true value of stocks in the market consistently. At their simplest, efficient stock markets are important because they channel the savings of people and other nations. If the country has a well-managed, efficient and good trading system, in manufacturing and productive services, and if it is efficient, the stock market channels this money to the areas that need it most. Stock market efficiency is an important aspect for every country that contributes greatly to the economic performance of a country; therefore it is essential to be efficient in every possible aspect. In recent decades the question that has arisen is "whether stock markets are truly efficient". In 1970 Fama published three different levels of classification that defined which markets were efficient, and this theory holds that the price of an asset is reflected by all stock markets. information that has been published