The S&P MERVAL Index (''MERcado de VALores'', ) is the most important

index Index (: indexes or indices) may refer to: Arts, entertainment, and media Fictional entities * Index (''A Certain Magical Index''), a character in the light novel series ''A Certain Magical Index'' * The Index, an item on the Halo Array in the ...

of the

Buenos Aires Stock Exchange The Buenos Aires Stock Exchange (BCBA; ) is the organization responsible for the operation of Economy of Argentina, Argentina's primary stock exchange located at Buenos Aires central business district. Founded in 1854, it is the successor to the ' ...

. It is a price-weighted index, calculated as the market value of a portfolio of stocks selected based on their market share, number of transactions and quotation price. The base of MERVAL is set at 30 June 1986 = 0.01 Argentine pesos. It is part of a joint-venture between

S&P Dow Jones Indices S&P Dow Jones Indices LLC is a joint venture between S&P Global and the CME Group, that was announced in 2011 and later launched in 2012. It produces, maintains, licenses, and markets stock market indices as benchmarks and as the basis of in ...

and BYMA. The corporations and weighted prices that compose MERVAL are updated every three months, based on their market share during the previous period. As of 30 July 2021 the constituent companies of the index include Aluar (aluminium smelter), BBVA Argentina (financial services), Banco Macro (financial services), Sociedad Comercial del Plata (holding), Edenor (electricity),

Grupo Financiero Galicia Grupo Financiero Galicia S.A. is a financial services holding company based in Buenos Aires, and its banking operations are the fifth largest in Argentina, as well as the largest among all domestically-owned private banks in the country.

(financial services), Pampa Energía (energy),

Ternium Ternium S.A. is a manufacturer of flat and long steel products with production centers in Argentina, Brazil, Mexico, Guatemala, Colombia, and the United States. Ternium owns a 51.5% interest in Usiminas of Brazil. The company has an annual produ ...

(steel),

Telecom Argentina Telecom Argentina S.A. is the major local telephone company for the northern part of Argentina, including the whole of the city of Buenos Aires. Briefly known as ''Sociedad Licenciataria Norte S.A.'', it quickly changed its name, and is usually kn ...

(telecommunications), and YPF (oil and gas).

Historical values

The following is a table showing the annual maximum, minimum and annual closing values of MERVAL between 1989 and 2022. During that period, the index hit its minimum value in 2001, some time before the explosion of the

economic crisis A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and ma ...

, but recovered in an accelerated fashion after that. The index experienced its biggest one-day intraday loss in history on 12 August 2019, when the index plummeted 16,824.29 points or 37.93% following the Argentine peso devaluation and the defeat of

Mauricio Macri Mauricio Macri (; born 8 February 1959) is an Argentine businessman and politician who served as President of Argentina from 2015 to 2019. He has been the leader of the Republican Proposal (PRO) party since its founding in 2005. He previously ...

in the

primary elections Primary elections or primaries are elections held to determine which candidates will run in an upcoming general election. In a partisan primary, a political party selects a candidate. Depending on the state and/or party, there may be an "open pri ...

. On 7 July 2022, the index closed above 100,000 points for the first time. This is due to the Argentine economy experiencing chronic inflation, which causes the peso to lose substantial purchasing power in a short period of time. As a result, despite the high valuations Argentine stocks actually lost value in hard currency terms such as U.S. dollars over the long run. As inflationary pressure has continued in Argentina, with the annual inflation rate exceeding 100% for the first time in more than three decades, the S&P MERVAL index went up by 360% in 2023.

Record values

References

External links

Bloomberg page for MAR

Mercado de Valores de Buenos Aires

Bolsar

Historical chart
{{North and South American Stock market indices South American stock market indices Finance in Argentina