Zagreb Stock Exchange, as the only stock exchange in the Republic of Croatia, is the central place for securities trading. In order to better understand how Stock Exchange works, an insight is presented into the capital market and its legislative framework led by HANFA as the supervisory body of financial markets and services, development of the stock market through history, instuments traded on it and managed markets are described. The main topic of this pape is to analyze the market indexes of the Zagreb Stock Exchange and to present their role in stock exchange operations by presenting their basic characteristics, the method of calculating listed shares and by presenting listed shares. The empirical part of the research is focused on the analysis of the Zagreb stock Exchange before and after the economic crisis, from 2007 to first half of the 2020. The main stock exchange index CROBEX was taken as the main indicator of the analysis, and the total turnover of shares and other stock exchange indixes were also used as auxiliary. The aim of the empirical part of the pape is to determine how the stock market reacted to this crisis, what the consequences were and to what extent it managed to recover.