Indices

The Stock market is often quoted as an index, mostly the media use the term 'All Ordinaries' which consists of the top 500 stocks in the market, accounting for around 95% of total market capitalisation. However there are many other indices available to compare and contrast the performance of individual stocks.

All quoted indices are S&P, administered by Standard & Poor who have created a global Index standard. The main S&P/ASX indices are;

ASX20 - code;XTL - The 20 largest and most liquid stocks in the local market and represents about 50% of the market capitilisation.
ASX50 - code;XFL - This index is the Australian component of the S&P Global 1200 Index, used mainly by global investment managers and representing about 65% of the ASX capitisation it is the basis of its own index and futures options.
ASX100 - code;XTO - A mixture of Large and mid-cap stocks, the 100 represents 75% of the markets capitilsation.
ASX200 - code;XJO - containing nearly 80% of the ASX market capitilisation, this index is recognised as the investment benchmark for the Australian equity market and forms the basis of the SPI200 as well as futures, options and warrants contracts.
ASX300 - code;XKO - Consisting of the XJO + an additional 100 small Cap stocks, provides a slightly different slant on the XJO.
ASX MidCap 50 - code;XMD - Comprised of the stocks in the ASX 100 minus the ASX 50 stocks. Representing around 10% of the market.

In addition to the main indices there are also sub-indices, based upon the S&P ASX200, that track the various sector and industries, some of them are (by code);

XDJ; Consumer Discretionary Sector. Consists of industries that are the most sensitive to economic cycles, such as; Media, automotive, leisure equipment, hotels, restaurants and consumer retailing.
XSJ; Consumer Staples Sector. Companies such as Food, beverages and tobacco manufacturers, supermarkets and others dealing with household goods whose businesses are less sensitive to economic cycles.
XFJ; Financials sector which contains financial-related companies such as banks, finance companies, insurance-related companies, investment and diversified holding companies.
XNJ; Industrials Sector. Broad industrial group of companies involved in areas such as; aerospace & defence, construction, engineering & building products, electrical equipment and industrial machinery. The provision of commercial services and supplies, airlines, marine, road & rail and transportation infrastructure.
XMJ; Materials Sector. Commodity-related minerals, mining and manufacturing industries, such as; manufacturers of chemicals, construction materials, glass, paper, forest products and related packaging products, and metals, including producers of steel. Gold.