Though past influences the present state, every day is a new day in the stock market. Hence, five forms of distributed lag model are used for analyzing data relating to opening prices of equities of 10 major companies for one year in BSE. This includes the analysis of day of the week effect. Equities of companies are not equally positioned in the market. So behavior of equity prices of no company can be generalized. Lags of daily opening prices explain the days of the influence of expectation built within the day. Influence of expectations of the day may be exhausted within a day or it lasts longer. It depends on the strengthening or weakening of expectations in subsequent days after the particular day. The paper focuses on differences, attributed to non-synchronous trading, between closing prices of preceding and opening prices of next days. Non-synchronous trading makes the market imperfect and oligopolistic in nature. Results show the length of lags of opening prices of equities of 7 companies to be 2 and 1 for 3 companies. Closing price of preceding day decisively influences current day‟s opening price but day of the week effect is not significant. Opening prices display stability and convergence to equilibrium; oft repeated thesis of volatility is refuted. The time taken by the opening prices of different companies to move back into their band of stability differs between the companies.