SMI closes below 15,000 after reaching a new record high
Published on 11/05/2026 at 23:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSSMI closes after volatile session
- The SMI fell 0.37 percent to 14,967.73 points on November 5, 2026.
- The index reached a record high of 15,092.56 points before retreating below 15,000.
- Technology and financial stocks came under pressure amid renewed concerns about artificial intelligence investment and regulation.
- Defensive shares including Swiss Re, Nestle and Swisscom helped limit the broader decline.
The Swiss Market Index (SMI) closed lower on Thursday, November 5, 2026, after an initially stronger session. The blue-chip index ended at 14,967.73 points, down 55.12 points or 0.37 percent from the previous close of 15,022.85. The closing level took the SMI back below the 15,000-point threshold after the index had reached a new intraday record.
According to finanzen.ch, the SMI opened at 15,061.17 points and climbed to a high of 15,092.56. It later fell to 14,947.41 before recovering modestly into the close. The report recorded the final index value at 17:30:28 Berlin time.
Technology stocks lose ground
The main pressure came from technology and financial shares. An AWP report published by finanzen.ch said investors were increasingly focused on risks surrounding artificial intelligence after the Democrats' election success in the United States. Market participants feared that tighter regulation could make data-center construction more difficult or delay individual projects.
The same report said ABB fell 4.2 percent after Chinese authorities blocked the planned sale of its robotics business to SoftBank. UBS declined 3.4 percent, while Logitech lost 3.3 percent. Other technology and data-center suppliers, including VAT, Comet, Inficon and AMS Osram, also recorded significant losses. RTTNews likewise attributed the weaker close to pressure on technology stocks in the United States and Europe linked to concerns over AI-related investment.
Defensive shares cushion decline
The SMI's defensive composition helped limit the setback. Swiss Re rose 2.0 percent after reporting better-than-expected earnings, while Swisscom gained 3.3 percent after its results and outlook. Nestle added 1.6 percent, supporting the index, and Roche slipped 1.1 percent. Eleven SMI constituents advanced, compared with nine decliners, according to the AWP report.
SIX describes the SMI as Switzerland's leading blue-chip equity index, comprising the 20 largest and most liquid SPI constituents. Its performance on Thursday illustrated the tension between continued demand for defensive stocks and renewed caution toward companies exposed to the AI infrastructure investment cycle.
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