{{Short description|Romanian stock market index}} {{Use dmy dates|date=April 2026}} {{Infobox financial index | name = Bucharest Exchange Trading Index | logo = | image = BET Historical Graph.svg | image_upright = | caption = Historical logarithmic graph of the BET from 2000 to 2026 | foundation = {{Start date and age|1997|9|19|df=y}}<ref>{{cite web |title=BET® Index Management Rules |url=https://bvb.ro/info/indices/2025/BVB-EN_Manual-BET_V_01-2022.pdf |website=bvb.ro |access-date=17 April 2026}}</ref> | operator = [[Bucharest Stock Exchange]] | symbol = BET | exchanges = | constituents = 20<ref name="bet">{{cite web |title=Indices profiles |url=https://www.bvb.ro/FinancialInstruments/Indices/IndicesProfiles |website=bvb.ro |access-date=19 April 2026}}</ref> | cap_level = [[Large-cap]] | mcap = {{US$|28.13 billion|link=yes}}<ref name="bvb"/><br />(as of 17 April 2026) | weighting = [[Capitalization-weighted index#Free-float weighting|Free-float capitalization-weighted]] | related = {{unbulleted list|[[BET-TR]]|[[BET-XT]]|[[ROTX]]}} | homepage = {{URL|https://bvb.ro/}} | isin = ROXBSEI00005 | reuters = .BETI | bloomberg = BET }}
The '''Bucharest Exchange Trading Index''' ('''BET''') is a [[stock market index]] that tracks the performance of the most [[market liquidity|liquid]] stocks listed on the [[Bucharest Stock Exchange]] (BVB). It is the first and primary [[benchmark (finance)|benchmark]] for the Romanian [[capital market]].<ref name="manual">{{cite web |title=Bucharest Exchange Trading® Index |url=https://bvb.ro/info/indices/2025/BVB-EN_Manual-BET_V_01-2022.pdf |website=bvb.ro |access-date=19 April 2026}}</ref><ref name="bvb">{{cite web |title=BVB - Indices |url=https://www.bvb.ro/FinancialInstruments/Indices/Overview |website=bvb.ro |access-date=19 April 2026}}</ref> The index is designed to serve as a performance and [[transparency (market)|transparency]] benchmark and can be used as an [[underlying asset]] for [[Derivative (finance)|derivatives]] and [[structured products]].<ref name="manual"/>
The BET index crossed the 20,000-point threshold for the first time in 2025, eventually closing the year at a historic high of 24,439, marking its strongest [[annual growth rate]] since 2009.<ref>{{cite web |title=Bucharest Stock Exchange registers historic 55% growth in 2025, best since 2009 |url=https://www.romania-insider.com/bucharest-stock-exchange-historic-55-growth-2025-jan-206?mc_cid=c7323bcfe6 |website=Romania Insider |access-date=19 April 2026 |language=en |date=5 January 2026}}</ref> The [[total return index]] version, [[BET-TR]], has performed even more strongly.<ref name="businessreview">{{cite web |title=Bucharest Stock Exchange's BET-TR among top 3 best performing global equity indices in the last decade |url=https://business-review.eu/money/stock-exchange/bucharest-stock-exchanges-bet-tr-among-top-3-best-performing-global-equity-indices-in-the-last-decade-287412 |website=Business Review |access-date=19 April 2026 |language=ro |date=12 August 2025}}</ref><ref name="intercapital">{{cite web |title=How Often Did BET Constituents Outperform the Index in 2024 YTD? - InterCapital |url=https://inter.capital/how-often-did-bet-constituents-outperform-the-index-in-2024-ytd/ |website=inter.capital |access-date=19 April 2026 |date=16 July 2024}}</ref><ref>{{cite web |last1=Dragan |first1=Aurel |title=BET index companies' evolution in 2024 - only 0.6% rise in revenues and 1.8% fall in profits |url=https://business-review.eu/money/stock-exchange/bet-index-companies-evolution-in-2024-only-0-6-rise-in-revenues-and-1-8-fall-in-profits-280096 |website=Business Review |access-date=19 April 2026 |language=ro |date=6 March 2025}}</ref> Over the decade ending in 2025, the BET-TR index [[compound annual growth rate|compounded]] significantly, placing it among the top best-performing global [[equity (finance)|equity indices]], alongside the [[Nasdaq-100]] and [[S&P 500]].<ref name="businessreview"/><ref name="intercapital"/>
==History== The BET index was introduced on 19 September 1997, two years after the re-establishment of the [[Bucharest Stock Exchange]], with an initial value of 1,000 points.<ref name="manual"/> It started with ten companies and a total [[market capitalization]] of 443 million [[Romanian lei]] (RON).<ref name="zf">{{cite web |last1=Popescu |first1=Liviu |title=Două decenii de BET: indicele a „supravieţuit“ în furtunile a două crize şi a crescut de opt ori |url=https://www.zf.ro/burse-fonduri-mutuale/doua-decenii-de-bet-indicele-a-supravietuit-in-furtunile-a-doua-crize-si-a-crescut-de-opt-ori-16734938 |website=ZF.ro |access-date=19 April 2026 |language=ro}}</ref> Over time, the number of constituents has varied between a minimum of 10 and a maximum of 20 companies, based on [[market liquidity|liquidity]] and quality criteria.<ref name="manual"/>
In 2015, the index [[methodology]] was enhanced to include qualitative criteria related to [[transparency (market)|transparency]], reporting quality and [[investor relations|investor communication]], in addition to the quantitative liquidity metrics.<ref name="manual"/><ref>{{cite web |title=BET Index – How to Trade and Invest in 2026 |url=https://naga.com/en/academy/bet-index |website=NAGA |access-date=19 April 2026 |language=en}}</ref> Since its launch, 36 different [[issuer|issuers]] have been part of the BET index at various points in time.<ref name="zf"/>
==Methodology== The BET index is a [[Capitalization-weighted index#Free-float weighting|free-float capitalization-weighted]] [[price index]], calculated in real time during Bucharest Stock Exchange trading hours in [[Romanian leu]] (RON).<ref name="manual"/> [[Euro]] and [[United States dollar|U.S. dollars]] versions are published daily after the market close using [[exchange rate]]s from the [[National Bank of Romania]].<ref name="manual"/>
Each constituent weight is determined by two factors, the [[free-float]] factor and a [[Capitalization-weighted index#Capping|representation factor]] that caps any single company weight at 20% of the total index capitalisation to ensure [[diversification (finance)|diversification]].<ref name="manual"/> Unlike the [[BET-TR]], the index is not adjusted for [[dividend]]s, but operational adjustments are made for [[corporate action|corporate events]] such as [[stock split]]s, [[reverse stock split|consolidations]], and [[capital increase]]s to maintain continuity and avoid artificial price [[market distortion|distortions]].<ref name="manual"/>
== Composition == {{As of|2026|April|19|df=y|post=,}} the Bucharest Exchange Trading Index consists of the following 20 companies, with a weighting as shown:<ref name="bet"/>
{| class="wikitable sortable sticky-header" id="constituents" |- !scope="col"| Company !scope="col"| Symbol !scope="col"| Sector ([[Global Industry Classification Standard|GICS]]) !scope="col"| Market Cap !scope="col"| Listed since !scope="col"| Index weighting |- !scope="row"| [[Banca Transilvania]] | {{BVB|TLV}} | Financials | {{US$|9.6 billion|link=yes}} | 15 October 1997 | 21.02% |- !scope="row"| [[OMV Petrom]] | {{BVB|SNP}} | Energy | {{US$|14.55 billion|link=yes}} | 3 September 2001 | 15.47% |- !scope="row"| [[Romgaz]] | {{BVB|SNG}} | Energy | {{US$|11.09 billion|link=yes}} | 12 November 2013 | 12.11% |- !scope="row"| [[Hidroelectrica]] | {{BVB|H2O}} | Energy | {{US$|16.64 billion|link=yes}} | 12 July 2023 | 11.80% |- !scope="row"| [[Transgaz]] | {{BVB|TGN}} | Energy | {{US$|4.06 billion|link=yes}} | 24 January 2008 | 7.01% |- !scope="row"| [[BRD – Groupe Société Générale]] | {{BVB|BRD}} | Financials | {{US$|4.84 billion|link=yes}} | 15 January 2001 | 6.82% |- !scope="row"| [[Digi Communications]] | {{BVB|DIGI}} | Communication Services | {{US$|3.30 billion|link=yes}} | 16 May 2017 | 4.65% |- !scope="row"| [[Electrica]] | {{BVB|EL}} | Utilities | {{US$|2.36 billion|link=yes}} | 4 July 2014 | 4.19% |- !scope="row"| MedLife | {{BVB|M}} | Health Care | {{US$|1.53 billion|link=yes}} | 21 December 2016 | 3.81% |- !scope="row"| [[Nuclearelectrica]] | {{BVB|SNN}} | Energy | {{US$|5.23 billion|link=yes}} | 4 November 2013 | 3.64% |- !scope="row"| [[Transelectrica]] | {{BVB|TEL}} | Energy | {{US$|1.61 billion|link=yes}} | 29 August 2006 | 2.28% |- !scope="row"| Premier Energy | {{BVB|PE}} | Utilities | {{US$|1.27 billion|link=yes}} | 28 May 2024 | 1.39% |- !scope="row"| [[Fondul Proprietatea]] | {{BVB|FP}} | Financials | {{US$|740.2 million|link=yes}} | 25 January 2011 | 1.22% |- !scope="row"| One United Properties | {{BVB|ONE}} | Real Estate | {{US$|794.7 million|link=yes}} | 12 July 2021 | 1.13% |- !scope="row"| Aquila Part Prod Com | {{BVB|AQ}} | Consumer Staples | {{US$|431.7 million|link=yes}} | 29 November 2021 | 0.77% |- !scope="row"| Teraplast | {{BVB|TRP}} | Industrials | {{US$|348.6 million|link=yes}} | 2 July 2008 | 0.62% |- !scope="row"| Transport Trade Services | {{BVB|TTS}} | Industrials | {{US$|348.6 million|link=yes}} | 14 June 2021 | 0.59% |- !scope="row"| Antibiotice | {{BVB|ATB}} | Health Care | {{US$|282.6 million|link=yes}} | 16 April 1997 | 0.50% |- !scope="row"| Sphera Franchise Group | {{BVB|SFG}} | Consumer Discretionary | {{US$|351.6 million|link=yes}} | 9 November 2017 | 0.50% |- !scope="row"| Cris-Tim | {{BVB|CFH}} | Consumer Staples | {{US$|459.6 million|link=yes}} | 26 November 2025 | 0.49% |}
==See also== * [[BET-TR]] * [[BET-XT]] * [[ROTX]] * [[Bucharest Stock Exchange]] * [[Economy of Romania]] * [[Foreign trade of Romania]] * [[List of companies of Romania]] * [[List of stock exchanges]] * [[List of stock market indices]]
==References== {{Reflist}}
==External links== * [http://www.bvb.ro Bucharest Stock Exchange] * [https://live.deutsche-boerse.com/en/etf/expat-romania-bet-ucits-etf?currency=EUR Expat Romania BET UCITS ETF on Xetra]
{{BET-20 companies}}
[[Category:European stock market indices]] [[Category:Economy of Romania]]