State index edges up 0.28, ends at 417.33

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, gained 0.28 to 417.33 Wednesday.

“U.S. equities sold off in afternoon trading and closed modestly lower following the anticipated announcement by the Federal Open Market Committee raising the federal funds target range,” said Leon Lants, managing director at Stephens Inc. in Little Rock.

Total volume for the index was 23.4 million shares.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.