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Introductory Technical Fundamental Economics Opinion Sectors International Regulatory Other Markets

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The Industrial 25 index contains the largest 25 shares in the industrial sector weighted for their free-float market capitalisation. This index is again dominated by Naspers (over 44% weighting at the time of writing) and Richemont (over 16% weighting at the time of writing). Together these two shares accounted for 60% of the index. Of the remaining companies (including Shoprite), the only one at the time of writing which had a material weighting was MTN with just less than 5%. In our view, this index is not much use to private investors because overseas interests dominate it.

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