Thanks Tfiidd for your reply.
MAMP is running in MAC. I placed owncloud folder inside htdocs.
When I run "http://localhost:8888/owncloud/" in browser .. it is showing folder list after owncloud login page.
I tried to remove all files and folder and just kept index.php ( "echo 'For Testing'"), it showed me the folder structure rather than 'For Testing' in the browser.
Believe, I need some configuration for display in the browser.