Sector Indices
MICEX Stock Exchange calculates 5 real time market capitalization-weighted sector indices that comprise stocks which classified into a relevant sector depending on the company's primary source of revenue (these indices are not restricted to a certain number of components):
- MICEX O&G (MICEX Oil and Gas Index)
- MICEX PWR (MICEX Power Index)
- MICEX TLC (MICEX Telecommunication Index)
- MICEX M&M (MICEX Metals and Mining Index)
- MICEX MNF (MICEX Manufacturing Index)
- MICEX FNL (MICEX Financials Index)
Sector Indices composition is reviewed quarterly on January 15, April 15, July 15 and October 15. At these dates the MICEX SE Board of Directors take a decision whether or not to leave the current index composition unchanged or to include (exclude) a stock taken from the certain Watch List if it has been recommended for inclusion by the Index Committee.
Sector indices Watch List composition is reviewed quarterly. Toward this all stocks of the relative economic sector which have a free-float of at least 5% are ranked in descending order by liquidity criterion:
where:
Ki √ liquidity criterion value of a stock i;
Fi1 √ number of days of trading in stock i within the preceding quarter;
Fi2 √ number of trades with stock i within the preceding quarter;
Fi3 √ turnover in stock i within the preceding quarter;
F1max, F2max, F3max √ maximum value of each sub-criterion.
Stocks (except stocks comprised in corresponding Sector Index) are included consequently into certain Sector Index Watch List until the Sector Index constituent capitalization and Sector Index Watch List constituent capitalization taken together amount to 80% of total sector capitalization.
Extraordinary review to the Sector Index composition have to be performed if a stock no longer shows required free-float level or the trading of a stock has been suspended. If a stock is suspended, it may remain in Sector Index at the price at which it was suspended for up to 3 business days. If a corporate action is applied to a stock which involves a change in the number of shares in issue the change in shares will be applied in 3 business days.
 | MICEX O&G Composition
download (195.5 kb) |
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| MICEX PWR Composition
download (212.0 kb) |
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| MICEX TLC Composition
download (215.0 kb) |
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| MICEX M&M Composition
download (161.0 kb) |
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| MICEX MNF Composition
download (146.0 kb) |
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| MICEX FNL Composition
download (121.5 kb) |
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MICEX Indices
