The NZSE 50 started from a base number which was NZSE 40 capital value when the market closed on Friday, 28 February. The NZSE Portfolio Index started from a base number of 1000.
The changes bring the NZSE's headline indices into line with international best practice and better reflect the performance of the New Zealand share market. They have been designed with all original principals in mind, namely:
- greater investibility,
- increased breadth; and
- better representation of current market performance.
The launch of the new NZSE 10 and NZSE Mid Cap Index will be held until 3 May 2003 to avoid any price pressure that may be created by the introduction of the NZSE50 and NZSE Portfolio Indices.
NZSE will continue to calculate the NZSE 40, NZSE All, NZSE SCI and sector indices. The NZSE 30 will be calculated until 31 December 2003.
