Walmart to Join Nasdaq 100 Index on January 20 as AstraZeneca Exits
Walmart Inc. will be added to the Nasdaq 100 Index on January 20, 2025, replacing AstraZeneca Plc during the annual rebalancing announced by Nasdaq Global Indexes. This follows Walmart's record-breaking transfer from NYSE to Nasdaq and reflects the company's strong performance with market value exceeding $920 billion. AstraZeneca's exit marks its continued decline from pandemic-era peaks as vaccine revenue faded and competition in obesity treatments intensified.
*this image is generated using AI for illustrative purposes only.
Walmart Inc. will join the prestigious Nasdaq 100 Index on January 20, 2025, as AstraZeneca Plc exits during the annual rebalancing, Nasdaq Global Indexes announced on Friday, January 9. The change will take effect before market opens on January 20, with US markets closed on January 19 for a holiday.
Index Changes and Timeline
The addition follows Walmart's historic decision to shift its stock listing from the New York Stock Exchange (NYSE) to Nasdaq, representing the largest exchange transfer on record. The Nasdaq-100 Index tracks the performance of 100 of the largest non-financial companies listed on the Nasdaq stock market across diverse industries and sectors.
| Parameter: | Details |
|---|---|
| Effective Date: | January 20, 2025 |
| Market Closure: | January 19, 2025 (Holiday) |
| Process: | Annual rebalancing |
| Exchange Transfer: | Largest on record (NYSE to Nasdaq) |
Walmart's Market Performance
The US-based multinational retail corporation has demonstrated remarkable growth, with its market value climbing above ₹77,000 crores ($920 billion). This surge stems from strong sales growth and market share gains as consumers increasingly turn toward lower-priced essentials.
Walmart has significantly expanded its digital operations, with its e-commerce business in the United States expected to report profitability this year. The company has also experienced growth in advertising, marketplace and membership revenue streams. Recent technological advancements include increased use of artificial intelligence across internal operations for scheduling and supply-chain management, plus AI-powered shopping tools developed in partnership with ChatGPT-maker OpenAI.
AstraZeneca's Market Decline
AstraZeneca's exit represents a continued retreat from its pandemic-era peak, when the success of its Covid-19 vaccine propelled the drugmaker into the Nasdaq 100. The pharmaceutical company's shares have since underperformed as vaccine-related revenue diminished and investor attention shifted toward obesity treatments being developed by rivals including Novo Nordisk and Eli Lilly.
| Company Status: | Details |
|---|---|
| Peak Period: | Pandemic-era (Covid-19 vaccine success) |
| Current Trend: | Underperforming shares |
| Revenue Impact: | Fading vaccine-related income |
| Competitive Pressure: | Obesity treatments by rivals |
Nasdaq 100 Index Significance
The Nasdaq 100 serves as a benchmark for hundreds of billions of dollars worth of investment products globally. As of December 2025, more than ₹50,000 crores ($600 billion) in assets tracked the index through exchange-traded funds (ETFs), including the widely followed ₹34,000 crores ($408 billion) Invesco QQQ Trust Series 1.
The index demonstrated strong performance with a notable gain of approximately 21.00% on a total-return basis in 2025, outperforming both the S&P 500's 18.00% rise and the Dow Jones Industrial Average's 16.00% gain during the same period. Walmart's institutional backing includes major investors such as Vanguard Group and BlackRock, positioning the company well for its Nasdaq 100 inclusion.
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