What is the MICEX index

Content Index

The MICEX index is a composite indicator calculated on the basis of the quotations of securities of the largest Russian companies whose shares are traded on the stock market. Modern technologies of stock trading allow you to calculate the value of the index in real time: thus, after each transaction with the securities of one of the companies included in the index, its value is recalculated. As a result, a directional dynamics of the indicator is formed, which during a certain time may be characterized by an upward or downward trend.
The total number of companies whose securities are used in calculating the index is 50 organizations. They represent all the main sectors of the Russian economy: for example, from the banking sector in the index are Sberbank of Russia and VTB Bank, from oil and gas - Gazprom, Rosneft and Surgutneftegaz, from telecommunications - MTS, Rostelecom and etc.
The composition of the MICEX index is subject to periodic review in order to ensure its maximum compliance with the current market situation. Depending on the demand for certain stocks, as well as their dynamics, the securities included in the index can be replaced by others. Thus, in the framework of the last modification of the composition, the shares of Yandex and Acron were included in the index calculation, and the shares of MOESK and Mechel were excluded. The current composition of the MICEX index is valid until December 15, 2014, and after the onset of this date should be revised.

Index dynamics

The MICEX index was first calculated on September 22, 1997: in fact, this date became the key one for the Russian stock market, which acquired its own status indicator. The new index was given the generally accepted international designation - MICEX, which is used for it until now. The starting point for its calculation was the value of 100 points, but it is clear that the main characteristic of any stock index, including the MICEX, is its dynamics.
With the success and failure of Russian stocks, the index value changed rapidly.Thus, the minimum value reached by the index in more than 15 years of its existence was 18.53 points: this event occurred during the notorious 1998 crisis that brought down the Russian economy. The maximum value of the index reached to date was 1970.46 points: it was recorded in 2007, which became one of the most successful for the domestic stock market.

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