MSM-30 Index
Muscat Securities Market Index was established in 1992, and the base date was June 1990. The number of companies included in the index sample has changed overtime to reach currently 30 companies, the most liquid in the market.
The main objectives of the MSM 30 are to represent the price movement of the listed shares objectively and to be a benchmark for individual and institutional investors which guides them through their investment processes. To achieve these objectives, the MSM 30 has the following features:
1. Freely available shares for trading are included only. Any shares which fall under the following will be excluded: Founders (exclusion ends when the company issues two balance sheets for two consecutive financial years); Government holdings; Strategic holdings (10% or more); Locked-in shares, which are not tradable for at least 3 months.
2. A 10% capping (CAP) is set to ensure wider representation of smaller companys in the index.
3. The free float and capping has been revised (re-set) on a quarterly basis. The revision is conducted quarterly, by end of March, June, September and December. The index sample amendment, on the other hand, takes place in the beginning of July of each year. The sample is selected based on the applicable selection criteria (market capitalization, liquidity, and earnings per share). The MSM 30 index contains three-sub indices representing the three sectors (Banking & Investment, Industry & Services, and Insurance).
Read more about this topic: Muscat Securities Market
Famous quotes containing the word index:
“Exile as a mode of genius no longer exists; in place of Joyce we have the fragments of work appearing in Index on Censorship.”
—Nadine Gordimer (b. 1923)