This study examines long term and short term inter-linkage between liquidity dimensions and equity returns in oil and gas sector of an emerging stock market for the time period 2009-2015. Conventional liquidity ratio and Amihud ratio are used to capture Price impact. Roll estimator is employed to quantify the effective spread and transaction cost aspect of liquidity. https://www.sneakerpoliticers.shop/product-category/zip-hoodies/