On Friday, July 13, 2007 the MICEX Index reached 1807.55 points (which is the maximum value of the index during the period of calculation), and closed at 1791.55 points.
Since the beginning of 2007 the MICEX Index has grown by 5.8 %. The previous maximum value of the index - 1780.54 points - was registered three month ago on April, 16. The minimum value of the MICEX Index - 18.53 points - was registered on October 5, 1998.
The MICEX Index is the most liquid and representative index of the Russian stock market. It comprises stocks of all basic segments of the Russian economy. The MICEX Index calculation frequency, caused by the trading activity at MICEX SE, exceeds several index values per second that makes it the only real "online" index of the Russian market (the delay of other indices of the Russian market takes from 10 minutes to a half of an hour). The MICEX Index is calculated in rubles, that makes it invariant to currency exchange rates.
The MICEX Index reflects the performance of Russian stock market, based on prices of stocks traded at MICEX Stock Exchange. On July, 13 2007 the main gainers in the index were ord. shares of Avtovaz (4.3%), pref. shares of Transneft (4.1%), ord. shares of Novatek (4.1%).The biggest weight in the MICEX Index have Gazprom (15.39%), Sberbank of Russia (14.96%), Lukoil (13.96%), Norilsk Nikel (7.20%) and RAO EESR (6.93%).
The turnover of the MICEX Index’ stocks covers about 97% of total turnover of equities trading at MICEX Stock Exchange. The capitalization of the MICEX Index is about 85% of total market capitalization.
Background
The MICEX Index has been calculated since 22 September 1997. It is a free-float capitalization-weighted index of the most liquid stocks of Russian market (at present: 30 stocks). Today, the MICEX Index is used by the main Russian asset managing companies as a basis for 25 index funds with net asset value about 5.3 billion rubles.
