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. 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 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 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 (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, 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 in the primary elections. 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 Chronic inflation is an economic phenomenon occurring when a country experiences high inflation for a prolonged period (several years or decades) due to continual increases in the money supply among other things. In countries with chronic infla ...

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