Santana Index

The iSAN or Santana Index (Portuguese: Índice Santana) is an index of about 30 stocks that are traded on the Santana Stock Exchange.

Overview


The index is composed by a theoretical portfolio with the stocks that accounted for 80% of the volume traded in the last 12 months and that were traded at least on 80% of the trading days. It's revised quarterly, in order to keep its representativeness of the volume traded and in average the components of iSAN represent 70% of the all the stock value traded.

The iSAN is an accumulation index. Its index number represents the present value of a portfolio begun on 2 January 1974, with a starting value of 100 and taking into account share price increases plus the reinvestment of all dividends, subscription rights and bonus stocks received.

The index has been adjusted as follows:


 * 1 – division by 100, on 3 October 1983
 * 2 – division by 10, on 2 December 1985
 * 3 – division by 10, on 29 August 1988
 * 4 – division by 10, on 14 April 1989
 * 5 – division by 10, on 12 January 1990
 * 6 – division by 10, on 28 May 1991
 * 7 – division by 10, on 21 January 1992
 * 8 – division by 10, on 26 January 1993
 * 9 – division by 10, on 27 August 1993
 * 10 – division by 10, on 10 February 1994
 * 11 – division by 10, on 3 March 1997.

Criteria for inclusion in the portfolio
The iSAN is composed by the stocks that must meet the criteria as stipulated by the exchange:
 * They should have been traded on the exchange in the past twelve months.
 * To be included in the group of stocks whose negotiability indexes added represent 80% of the total value of all individual negotiability indexes.
 * The trading share of the stock should be higher than 0,1% of the total share flow in the exchange.
 * More than 80% of the shares of the stock must be traded on the exchange.

For a list of the components of the index, check the article List of companies traded at BVS.