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

index Index (or its plural form 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 a Halo megastru ...

of the

Buenos Aires Stock Exchange The Buenos Aires Stock Exchange (BCBA; es, Bolsa de Comercio de Buenos Aires) is the organization responsible for the operation of Argentina's primary stock exchange located at Buenos Aires CBD. Founded in 1854, it is the successor to the ''Banco ...

. 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 peso The peso (established as the ''peso convertible'') is the currency of Argentina, identified by the symbol $ preceding the amount in the same way as many countries using peso or dollar currencies. It is subdivided into 100 ''centavos''. Its ISO 4 ...

s. 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, the CME Group, and News Corp that was announced in 2011 and later launched in 2012. It produces, maintains, licenses, and markets stock market indices as benchmarks and as th ...

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 Aluar is the only aluminium smelter in Argentina and one of the largest in South America. History Established in 1970 as a partnership between synthetic rubber maker FATE, businessman José Ber Gelbard, and other private investors, Aluar obtain ...

(aluminium smelter),

BBVA Argentina BBVA Argentina, formerly BBVA Banco Francés, is a financial institution in Argentina. History Founded on October 14, 1886, in Buenos Aires as ''Banco Francés del Río de la Plata'' ( en, French Bank of the River Plate), it is the oldest private ...

(financial services),

Banco Macro Banco Macro is the second largest domestically-owned private bank in Argentina, and the sixth-largest by deposits and lending. Overview Banco Macro began operations as ''Financiera Macro'', a brokerage specializing in arbitrage founded by Mario B ...

(financial services),

Sociedad Comercial del Plata Sociedad Comercial del Plata is a diversified Argentine holding company, with interests primarily in the energy, rail transport, real estate, and tourism sectors. Overview Sociedad Comercial del Plata was founded in Buenos Aires on June 7, 1927, ...

(holding),

Edenor Empresa Distribuidora y Comercializadora Norte S.A. is the largest Argentine distributor of electricity. It is headquartered in Buenos Aires. Purchasing a majority stake in the newly privatized in 1992, the company has an exclusive concession t ...

(electricity),

Grupo Financiero Galicia Grupo Financiero Galicia 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 Pampa Energía S.A. is the largest independent energy company in Argentina, with participation in the electricity and oil and gas value chain. It was founded in 2005 and is headquartered in Buenos Aires. Pampa is listed on the Buenos Aires Stock ...

(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. It is the leading steel company in Latin America with highly integrated processes t ...

(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 YPF S.A. (, formerly ; English: "Fiscal Oilfields") is a vertically integrated, majority state-owned Argentine energy company, engaged in oil and gas exploration and production, and the transportation, refining, and marketing of gas and petr ...

(oil and gas).

Historical values

The following is a table showing the annual maximum, minimum and annual closing values of MERVAL between 1989 and 2021. During that period, the index hit its minimum value in 2001, some time before the explosion of the

economic crisis An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with th ...

, 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 the President of Argentina from 2015 to 2019. He has been the leader of the Republican Proposal (PRO) party since its founding in 2005. He previo ...

in the

primary elections Primary elections, or direct primary are a voting process by which voters can indicate their preference for their party's candidate, or a candidate in general, in an upcoming general election, local election, or by-election. Depending on the ...

. On July 7, 2022, the index closed above 100,000 points for the first time. This is due to the Argentine economy experiencing chronic inflation that is causing the peso to lose a lot of purchasing power in a short period of time. As a result, Argentine stocks actually lost value in hard currency terms such as U.S. dollars over the long run.

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