Monthly development DAX Index 2015-2024

At the end of September 2024, the DAX index reached 19,324.93 points. This compares to 9,935.84 at the end of March 2020, and around 13,249.01 points at the end of December 2019 – indicating the German stock markets has recovered from the global coronavirus (COVID-19) pandemic and has stayed above the levels before the pandemic. 

Origin and composition of the DAX Index

The DAX (Deutscher Aktienindex) is the most important German stock index, showing the value trends of the 40 largest companies by market capitalization listed on the Frankfurt stock exchange. The DAX index was introduced on July 1, 1988 and is a continuation of the Börsen-Zeitung Index, established in 1959. The count among their number some of the most recognizable companies in the world, such as carmakers Volkswagen and Daimler, sportswear brand adidas, and industrial giants Siemens and BASF. After the DAX, the 50 next-largest German companies are included in the midcap MDAX index, while the 70 next-largest small and medium-sized German companies (ranked from 91 to 160) are included in the SDAX index.

The Frankfurt Stock Exchange

All the companies included in the DAX family of indices are traded on the Frankfurt Stock Exchange. Dating back to 1585, the Frankfurt Stock Exchange is considered to be the oldest exchange in the world. It is the twelfth largest stock exchange in the world in terms of market capitalization, and accounts for around 90 percent of all equity trading in Germany. Two main trading venues comprise the Frankfurt Stock Exchange: the Börse Frankfurt is a traditional trading floor; while the Xetra is an electronic trading system which accounts for the vast majority of trading volume on Frankfurt Stock Exchange. As of March 2023, the total market capitalization of all companies listed on the Frankfurt Stock Exchange was around two trillion euros.