The OBX is the benchmark index for Oslo Bors, comprising the 25 most liquid Norwegian stocks. It is the primary barometer for the Norwegian equity cycle and is heavily influenced by energy and shipping sector performance.
| Date | Level | Event |
|---|---|---|
| Mar 2020 | 412 | COVID crash — OBX trough, strong BUY signal |
| Oct 2021 | 1,195 | Post-COVID recovery peak |
| Sep 2022 | 1,008 | Rate hike correction — re-entry signal |
| Jan 2024 | 1,156 | Mid-cycle consolidation |
| Feb 2026 | 1,380 | Pre-Hormuz peak |
| Apr 2026 | 1,285 | Hormuz correction — neutral zone |
| Sector | Weight | Key signal | Stocks |
|---|---|---|---|
| Energy | ~40% | Brent / Rig util. | Equinor, Aker BP, Vår Energi |
| Shipping | ~25% | BDI / VLCC | Frontline, Golden Ocean, Wallenius |
| Seafood | ~15% | Salmon price | Mowi, SalMar, Grieg |
| Materials | ~10% | Aluminium / Urea | Norsk Hydro, Yara, Elkem |
| Other | ~10% | PMI | Kongsberg, DNB, Telenor |
OBX signal updated manually from Oslo Bors closing data. For informational purposes only. Not financial advice. See disclaimer.