OMX Stockholm is also abbreviated OMXS, which since October 2005 has been the name of the index for all shares on the Stockholm Stock Exchange’s main lists.
The index includes all shares listed on the Nordic Exchange in Stockholm. The start-up date for OMXS is 31 December 1995 with a base value of 100. The index shows the percentage development for the Stockholm Stock Exchange. If the index is 150, it is e.g. increased by 50.
The index most talked about in Sweden is what is called OMXSPI. The index shows all shares listed on the Stockholm Stock Exchange, thus showing an overall picture of the development on the Swedish Stock Exchange. For example, when we talk about how things are going on the Stockholm Stock Exchange, we also often refer to OMXSPI.
Another widely used index in Sweden OMXS 30, where you can see the development of the 30 most traded stocks on the Stockholm Stock Exchange, corresponding to one of the most well-known indices, the Dow Jones Industrial Average (DJIA). It shows the 30 most traded stocks on the New York Stock Exchange.
When you look at the index in general, you will come across the letters PI and GI. It tells you whether the index is a price index or a return index, price index and gross index. A price index shows the development in the share price. OMXSPI is, for example, a price index for developments on the Stockholm Stock Exchange.
A return index shows how share prices develop, and also takes into account any share dividends that companies make, and is called OMXSGI for the Stockholm Stock Exchange. The return index thus provides a clearer picture of the total return. On the Stockholm Stock Exchange, it can be good to keep track of OMX GI and PI. It’s also good to keep an eye on the OMXS 30.
An index shows the development of several different stocks and shows the average development in a market. Therefore, the index can be used as a comparative figure for a specific market that does not always have to be equities. It can also be an index for a country, an index of companies in a particular industry or a currency.