Oslo Stock Exchange Index OBX

OBX
Long name	Oslo Bors Index
Owner/publisher/sponsor	Oslo Bors
Number of constituents	25 Norwegian companies
Construction principle	Capitalization-weighted value ratio
Base date/base value	January 1, 1987 / 200.00
Interval of calculation	1 minute
Source: Oslo Stock Exchange, 1991.

Total Index
Long name	Oslo Bors Total Index
Owner/publisher/sponsor	Oslo Bors
Number of constituents	All stocks registered on the Main List of the Oslo Stock Exchange
Construction principle	Capitalization-weighted total return value ratio
Base date/base value	January 1, 1983 / 100.00
Interval of calculation	1 minute
Source: Oslo Stock Exchange, 1991.

The index family of the Oslo Stock Exchange consists of the following indexes:

• the OBX
• the Total Index
• sector indexes, viz. a bank index, an insurance index, a shipping index, and an industry index which includes companies that are listed in the group "industry, trade, and finance".

Companies in which the Norwegian state holds a long term position are weighted only with the portion of the company's market capitalization that is freely transferable. The OBX is based on the 25 most frequently traded shares on the Oslo Stock Exchange in the 6 months prior to the biannual index revision on June 1st and December 1st. The Total Index, by contrast, comprises all Norwegian stocks listed on the Main List, irrespective of whether they are class A, class B, or free stocks.⁽¹⁾ At the end of 1994 the Total Index comprised 126 stocks of 98 companies (Oslo Stock Exchange, 1995).

Adjustments to the index are made in the cases of

• New listings
• Delistings
• Changes in the number of outstanding shares.

It is noteworthy that while the OBX is not adjusted for dividend payments, the Total Index and the sector indexes are. Technically, the adjustment is carried out by lowering the base capitalization on the ex dividend day accordingly.

Footnote:

1. Primary capital certificates (Grunnfondsbevis) are not eligible for inclusion in the index.

References:

Oslo Stock Exchange (1991): Aksjeindekser (Share Indices), Oslo Stock Exchange, Oslo.

Oslo Stock Exchange (1995): Statistikk (Statistics) 1994, Oslo Stock Exchange, Oslo.

Institute for Advanced Studies, Vienna, 1997. All rights reserved.

This page is part of the European Stock Market Indexes Website of the Institute for Advanced Studies in Vienna, Austria. Text by Christian Helmenstein. No part of this page or the European Stock Market Indexes Website may be reproduced, stored in a retrieval system, or transmitted without the prior permission of the copyrightholder(s), subject to the exceptions provided for by law. In any case, proper reference would be: "European Stock Market Indexes Website, page title, Institute for Advanced Studies, Vienna (http://www.ihs.ac.at/fin/finix/direct.html)." For further information on stock market index construction principles (NOT: data sources etc.) contact the IHS Financial Indicators Research Group. No liability assumed.