On Friday, 15 December, at the close of trading in securities on the MICEX Stock Exchange, the value of the MICEX Index reached 1627.69 points, having exceeded the previous maximum of 1616.32 points registered on 10 May 2006. Thus, since the beginning of 2006, the MICEX Index has grown by 61%.
In the course of the trading session of 15 December, the Index reached its new maximum value of 1630.08 points. The historical minimum of the MICEX Index, 18.53 points, was registered on 5 October 1998.
Today, shares in Sberbank account for the largest proportion in the MICEX Index (13.25%), followed by shares in Gazprom (11.92%), Norilsk Nickel (11.87%), Rosneft (9.67%), RAO UES (9.65%) and LUKoil (8.86%). The proportion of securities comprising the MICEX Index in the total turnover of shares on the MICEX Stock Exchange exceeds 98%, whereas the capitalization of securities comprising the MICEX Index basket is over 80% of the capitalization of the exchange-based share market.
Background
The MICEX Index has been calculated since 22 September 1997. It is a classical effective capitalization-weighted index of the market for most liquid shares of Russian issuers admitted to trading on the MICEX Stock Exchange (at present: 21 stocks). Since 2002, the MICEX Index has been calculated in the real-time mode. The market capitalization of all securities comprising the MICEX Index basket is calculated taking into account the proportion of the free-float. Today, the MICEX Index is used by management companies as a base index for 13 index funds. The value of their net assets is 3.5 billion rubles.
