Shares of Comet Ridge Limited (ASX:COI) last traded at 0.305, representing a move of -1.61%, or -0.005 per share, on volume of 64,442 shares. After opening the trading day at 0.305, shares of Comet Ridge Limited traded in a close range. Comet Ridge Limited currently has a total float of 727.88M shares and on average sees 248,570 shares exchange hands each day. The stock now has a 52-week low of 0.26 and high of 0.42.

Australia: Things You Didn’t Know About S&P/ASX 200 Index

S&P ASX 200 is one of Australia’s oldest and leading market index for stocks. The index contains the country’s top 200 companies ranked by way of float-adjusted market capitalization. The index came into being in the early 2,000’s after replacing the All Ordinaries that was the primary investment benchmark in the 1990’s.

Value Changes

Value changes in the index are measured with respect to changes in stock prices rather than market capitalization as is the case in other global market indexes. What this means is that the index value can only change, depending on stock prices changes rather than market capitalization.

Taking into consideration historical data from when the index operated as ‘All Ordinaries’, ASX 200 boasts of an all-time low of 1,538.50 points, registered in November 1992. The index highest point was recorded in November 2007, having climbed to highs of 6,000, from 3,133.3 points at the time of inception in April 2000.

Investors can still be able to look for data beyond 2000 even though the index came to be in the early 2000’s.

Listing Requirement

All the 200 companies listed in the ASX 200 have their shares listed on the country’s bourse the ASX; considered as one of the main requirements. Another factor that is usually taken into consideration prior to the listing into the index is a stock’s liquidity levels. Comet Ridge Limited has interesting liquidity profile. A company should be liquid enough to support huge volume trades as well as unusual price changes. Comet Ridge Limited has interesting liquidity profile.

While the maximum number of stocks that the index can carry in any given quarter is 200, the same can also be reduced with the exclusions of stocks that do not meet the minimum requirement. The last rebalancing was carried out on September 16, 2016 with the next one slated for December 16, 2016. In the just concluded rebalancing, six companies were dropped paving the way for the inclusion of six others that had met the minimum requirements.

Comet Ridge Limited is a company traded on the ASX. Gaining accreditation for listing in the index is always a positive for companies given that the popularity that comes with the same goes a long way in enticing investment as well as research from stock broking firms and analysts.

Stocks listed in the index come from a wide range of sectors ranging from utility financials to healthcare. Currently, companies with exposure to the financial sector account for 10% of the ASX 200 weighted points. These companies also account for nearly 80% of ASX total equity capitalization.

Index Performance

The index is currently trading at highs of 5300 points having rallied by 4.71% since the start of the year. The impressive run comes on institutional investors both local and international flocking the country’s equity market in a bid to advantage of a bull run in play. It is interesting how this will affect Comet Ridge Limited. Low interest environment is also fuelling interest in Australia’s stocks give that the same goes a long way to guarantee higher returns on invested funds. Comet Ridge Limited liquidity position heated the attention of numerous investors from abroad.

Strong governance structure is one of the key reasons why investors are rushing to invest I the country’s market further helping push the index even higher. Australia is currently raked top in Asia I terms of corporate governance.

Another recent and important Comet Ridge Limited (ASX:COI) news was published by Fool.com.Au which published an article titled: “Is now the time to buy Comet Ridge Ltd (ASX:COI) shares? – Motley Fool Australia” on September 19, 2018.

Comet Ridge Limited engages in the exploration and appraisal for coal seam gas resources and reserves in eastern Australia. The company has market cap of $222.00 million. The firm has 100% interests in the ATP 743, ATP 744, and ATP 1015 permits with area of 3,195; 4,296; and 2,194 square kilometers subsequently located in the Galilee Basin, Queensland; and 40% interests in the ATP 1191 Mahalo project with an area of 911 square kilometers located in the Bowen Basin, Queensland, as well as holds interests in PEL 6, PEL 427, and PEL 428 permits with area of 5,162; 5,764; and 6,018 square kilometers subsequently located in the Gunnedah Basin, New South Wales. It currently has negative earnings.