Share Index (SAX) is intended to document the aggregate price dynamics
of 16 representative Slovak stocks traded on the Bratislava Stock Exchange
Accounting for dividends, the SAX is constructed as a total return index
with stock specific correction factors in the denominator of the index
formula. Since the index is not chained, these correction factors have
to be carried over to all subsequent index calculations.
The index also includes dividend payments and earnings connected with
changes of share capital amount.
Shares included in the SAX index must meet the following criteria:
· the value of market capitalization must reach a 66% minimum
from total market capitalization
The index only represents the stock market on the BSSE, and has been based
to date on the average prices stated in the price lists. A calculation
based on closing prices will be applied in the future, although only an
increased liquidity of the market will permit this step.
· value of the trading volume amounts to a 66% minimum form
the total trading volume.