Four indices, one market: CROBEX +2.31%, CROBEXprime −2.05% in the same month
On Friday, 9 October 2026, four headline equity indices of the Zagreb Stock Exchange closed the same session with four different numbers and two different signs: CROBEX +0.05%, CROBEXplus +0.32%, CROBEXprime −0.16% and CROBEX10 −0.21%.
This is not a one-day quirk. Over one month, from 9 September to 9 October 2026, CROBEX rose 2.31% (4,391.61 → 4,492.97) while CROBEXprime fell 2.05% (2,319.69 → 2,272.23). The gap between the two numbers is 4.36 percentage points — for indices measuring the same exchange.
What each index covers
The Zagreb Stock Exchange publishes several equity indices, and they differ above all in which shares enter the calculation at all:
- CROBEX — the main equity index of the Zagreb Stock Exchange.
- CROBEX10 — the ten most liquid shares.
- CROBEXprime — shares listed on the Prime Market, the segment with the strictest listing and reporting requirements.
- CROBEXplus — the broader equity index.
The same company can be a constituent of more than one index, so the indices overlap and their values are not additive.
One month, three months, year to date
| Index | 9 Sep → 9 Oct 2026 | 9 Jul → 9 Oct 2026 | 2 Jan → 9 Oct 2026 |
|---|---|---|---|
| CROBEX | +2.31% | +0.12% | +16.05% |
| CROBEX10 | +2.88% | +2.26% | +18.90% |
| CROBEXprime | −2.05% | −2.79% | +10.40% |
| CROBEXplus | +1.50% | −2.75% | +17.63% |
Starting and closing levels are official Zagreb Stock Exchange index closes on the dates shown; the percentages are calculated from them. The dates were chosen mechanically — the same calendar day one, three months back (the 9th) and the first trading day of the year — not as a high or a low of the period.
Over the three-month window CROBEX was essentially flat (+0.12%), while CROBEXprime and CROBEXplus sat about 2.8% lower and CROBEX10 2.26% higher. Year to date all four are positive, but the range runs from +10.40% to +18.90%.
Turnover: how much of the market each index actually covers
On Friday 9 October, equity turnover on the Zagreb Stock Exchange was €2,254,699.56 (the sum across all 37 shares traded that day). Turnover attributed to the individual indices on the same day:
| Index | Turnover 9 Oct 2026 | Share of CROBEX turnover |
|---|---|---|
| CROBEX | €2,072,143.14 | 100% |
| CROBEX10 | €1,838,885.20 | 88.7% |
| CROBEXplus | €1,503,261.64 | 72.5% |
| CROBEXprime | €438,516.60 | 21.2% |
CROBEX constituents accounted for 91.9% of all equity turnover that day. Within that, the ten CROBEX10 shares carry 88.7% of CROBEX turnover, and CROBEXprime 21.2%. The figures overlap because the same share can belong to several indices.
On the same day just two shares — KONČAR (KOEI) with €774,460 and Adris preferred (ADRS2) with €602,114 — made up 61.0% of total equity turnover.
What this means when someone says "the market"
"The market was up today" is not the same statement depending on which index is read. For 9 October, depending on the index chosen, it would be correct to say the market rose (CROBEX, CROBEXplus) and equally correct to say it fell (CROBEX10, CROBEXprime). Over a one-month window the difference is no longer cosmetic: 4.36 percentage points between CROBEX and CROBEXprime.
No cause is claimed here. The difference between indices may stem from composition, weightings, the liquidity of individual constituents, or a combination of all of these; this text measures the difference, it does not explain it. The same caution applies to the sector indices, which we covered in Sector indices of the ZSE: why they swing harder than CROBEX.
Daily values for all Zagreb Stock Exchange indices are published on our Indices page, and individual shares and their turnover can be reviewed in the Screener.
For information only — not investment advice or a recommendation. The data and calculations shown are informational and analytical. They do not constitute investment advice, a recommendation or an inducement to trade. Data source: official Zagreb Stock Exchange EOD data. The conclusion is always yours.