Prague Stock Exchange 50 Index

The PX-50 is the leading representative of a family of indexes that comprises altogether 21 indexes. Besides this two index the PX-GLOB global index, which encompasses all listed stocks and investment fund shares that have been traded at least once, and a set of 19 sectoral indexes is calculated each trading day.

The PX-50 consists of the most attractive domestic stocks traded on the Prague Stock Exchange in terms of turnover and market capitalization. In detail, the following rules for updating the PX-50 index base apply:

  • Definition of the index sample
    • Criteria for the sampling procedure
    • Market capitalization (issue ranging among the 100 largest issues according to the fourth trading day preceding the index revision)
    • Trading volume (issue ranging among the 80 most actively traded issues during the preceding quarter)
    • Sectoral balance (individual issues are selected starting from those with the highest market capitalization under the condition that the sectoral composition of the index sample reflects the sectoral balance of total market capitalization)
  • Criteria for non-admission
    • Stocks of bankrupt companies
    • Stocks of companies in which trading has been suspended for a long time
    • Stocks of investment funds
  • Semi-annual revision of the index (quarterly revision of the index as of the first session in July 1997 after switching from a quarterly update system)

The PXL was introduced to document the performance of stocks which are traded in the official market segment without being included in the PX-50 but was abolished in September 1997 when issues with low liquidity were excluded from the Free Market.

Prague Stock Exchange 50 Index, Prague Stock Exchange. Text: Institute for Advanced Studies, Vienna, 1998. All rights reserved.

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