BIST 100 index definition
This tracks the performance of 100 companies on the Borsa Istanbul Stock Exchange (BIST)
What is the BIST 100 index?
BIST 100 Index definition: This refers to the Borsa Istanbul 100 Index – which is commonly abbreviated to BIST 100. This is a capitalisation-weighted index that includes companies from the national market.
The BIST 100 index – which has the ticker symbol XU100 – covers stocks included in both the BIST 50 and BIST 30. Stocks included in the index are selected based on set criteria and requirements, which are set out below.
Who is included?
Companies that are part of the index are traded on the BIST Stars and the BIST Main markets. In addition, real estate investment trusts (REITs) and venture capital trusts (VCTs) that are tradable on the Collective and Structured Products Markets are also eligible for inclusion in the index.
The BIST indices can be used as benchmarks by different types of institutional investors, but they are subject to licensing and come with fixed and variable fees.
BIST 100 index meaning
Stocks eligible for inclusion in the BIST 100 Index are in the top two of four tiers of stocks, based on two factors: the median fair-market value of a stock and its traded volume.
When analysing the traded volume for the stock, only trades executed in the secondary market are considered. The inclusion in the index is based on the upper and lower ranks of companies.
New stocks can be added to the index if they meet a predefined rank, while stocks can be removed if they fall outside of that. The defined upper and lower rankings for the BIST 100 index are the 90th and 110th ranks. The index also has a reserve of five stocks that serve as possible substitutes when potential changes may arise with any of the stocks included.