The distorted SET index benchmark
You can see from the below table that the Finance and Bank sector combined, dominate the SET index. Even the energy or the communication sector, cannot compete. Yet, Finance and Banking have been the laggards for some years. If you excluded these two mammoth sectors, or if the SET introduced a smaller cap index (say without the finance/bank sectors), I think such a secondary index would truly show where on the SET the action has been most impressive.
Why have the SET gnomes been so reluctant in introducing another benchmark index?
To date this distorted index is still dominated by a few largest cap sectors which masks the true performance of the real economy. The below data is as of December 11, 2003.
|
Cur Mkt Cap |
|
11-Dec-03 |
|
|
SET Index |
3,702,422,250,000 |
|
% of SET |
|
SETAGRI Index |
53,528,542,960 |
1.45 |
|
|
SETBANK Index |
512,497,437,500 |
13.84 |
|
|
SETBUILD Index |
415,972,062,500 |
11.24 |
|
|
SETCHEM Index |
178,759,234,370 |
4.83 |
|
|
SETCOM Index |
104,892,078,120 |
2.83 |
|
|
SETCOMUN Index |
378,872,281,250 |
10.23 |
|
|
SETELEC Index |
47,184,710,930 |
1.27 |
|
|
SETETRON Index |
69,986,765,620 |
1.89 |
|
|
SETENERG Index |
618,415,937,500 |
16.70 |
|
|
SETENTER Index |
120,798,320,310 |
3.26 |
|
|
SETFIN Index |
154,834,203,120 |
4.18 |
|
|
SETFOOD Index |
71,284,507,810 |
1.93 |
|
|
SETHELTH Index |
27,065,453,120 |
0.73 |
|
|
SETHOT Index |
36,689,441,400 |
0.99 |
|
|
SETHHOLD Index |
13,837,781,250 |
0.37 |
|
|
SETINS Index |
37,807,953,120 |
1.02 |
|
|
SETJEWEL Index |
2,187,019,280 |
0.06 |
|
|
SETMACH Index |
1,577,300,040 |
0.04 |
|
|
SETMINE Index |
7,730,688,960 |
0.21 |
|
|
SETOTHER Index |
9,600,125,000 |
0.26 |
|
|
SETPKG Index |
21,034,023,430 |
0.57 |
|
|
SETPHARM Index |
1,288,750,000 |
0.03 |
|
|
SETPRINT Index |
12,702,074,210 |
0.34 |
|
|
SETPROF Index |
1,542,750,000 |
0.04 |
|
|
SETPROP Index |
344,861,906,250 |
9.31 |
|
|
SETPULP Index |
37,355,441,400 |
1.01 |
|
|
SETTEXT Index |
39,354,187,500 |
1.06 |
|
|
SETTRANS Index |
151,726,187,500 |
4.10 |
|
|
SETVEHIC Index |
45,585,039,060 |
1.23 |
|
|
SETSILO Index |
5,222,413,080 |
0.14 |
|
|
SETREHAB Index |
177,228,406,250 |
4.79 |
