# MICEX 10

(Redirected from MICEX Index)

The MICEX 10 Index (Russian: Индекс ММВБ10) is an unweighted price index that tracks the ten most liquid Russian stocks listed on MICEX-RTS in Moscow, Russia. Composition of the index is assessed quarterly following the liquidity criterion.[1] Components are assigned equal weight.

## Calculation

The index is the arithmetic average of the change of prices between a time $t$ and a base time 0, which is the end of the preceding quarter. The formula is:

$\text{MICEX10} = \frac {k}{10}\cdot\sum\limits_{i=1}^{10}\left(\frac {P_{i}}{P^0_i}\right)$

where $P_{i}$ is the price of the component stock $i$ at time $t$, $P^0_i$ is the price of the component stock $i$ at the end of previous quarter, and $k$ is the adjustment coefficient.[2]

## Components

As of the 1st quarter 2012, the composition of the index is the following:[1]

Company Ticker symbol Industry Stock type
Sberbank SBERP Banking Preferred
Sberbank SBER Banking Common
VTB VTBR Banking Common
SeverStal CHMF Mining and steel metallurgy Common
NorNickel GMKN Precious and non-ferrous metals Common
Gazprom GAZP Oil & gas Common
Lukoil LKOH Oil & gas Common
Uralkaliy URKA Fertilizers Common
Rosneft ROSN Oil & gas Common
Rostelecom RTKM Telecommunication Common