Swiss Market Index (SMI) – Recent Developments and Market Performance

Composition Changes

  • New constituents: The SMI has undergone a rotation that added Galderma (SIX: GALD) and Sandoz to its basket of blue‑chip stocks. The additions were announced on 21 September 2026 and were reported by multiple Swiss news outlets, including Blick.ch, MoneyCab.com, SRF.ch, Finanzen.net and Finanznachrichten.de.
  • Removed constituents: The rotation also saw the removal of Kühne+Nagel and Swisscom from the index, as noted in the Finanznachrichten.de report.

Market Reaction on 21 September 2026

  • At the opening of the trading day, the SMI rose by 0.63 % to 13 873.17 points at 09:10 UTC, placing the index firmly in the gain zone.
  • The index’s market‑capitalisation at that moment was €1.559 billion.
  • The day’s performance was supported by a broader European market recovery following a fall in bond yields, as reported by Finanznachrichten.de and EENewsEurope.
  • The SMI’s performance on the preceding Friday, 18 September, was comparatively weaker, closing at 13 786.72 points (up 1.15 %) and trading at 13 871.09 points at 15:40 UTC (down 0.55 %).

Closing Levels

  • On 17 September 2026, the SMI closed at 13 786.7 points.
  • The 52‑week high reached 14 669.5 points on 10 August 2026, while the 52‑week low was 11 867.9 points on 25 September 2025.

Summary

The addition of Galderma and Sandoz has refreshed the SMI’s composition, removing older constituents Kühne+Nagel and Swisscom. The index opened strongly on 21 September 2026, driven by a positive European market sentiment and the introduction of the new blue‑chip stocks. The market‑capitalisation of the SMI’s constituents stood at €1.559 billion at opening, reflecting the weight of the newly added firms. The SMI’s recent performance aligns with its broader trend of recovery after a weak week, as noted across multiple financial news sources.