The All Ordinaries (INDEXASX: XAO), or as it is commonly known, the 'All Ords', is the oldest share index in Australia.
Also referred to as the 'Kangaroos', the index was started in 1980 and is constructed and maintained by the Australian Stock Exchange (ASX). It tracks the performance of the top 500 companies listed on the ASX by way of market capitalisation.
To be included in the All Ords index, a company must have a market value of at least 0.2% of all domestic equities quoted on the ASX and must maintain an average turnover on the ASX of at least 0.5% of its quoted shares per month.
The All Ords is often used as a barometer for the overall performance of the Aussie share market, with the 500 companies included in the index making up around 90% of the ASX's total value.