Retail giant Walmart will join the Nasdaq-100 Index on January 20, 2026, the Nasdaq said. The company will replace AstraZeneca, which will exit the benchmark because its U.S. listing does not meet index eligibility rules.

Walmart’s inclusion follows its plan to move its primary stock listing from the New York Stock Exchange to Nasdaq. Because of this change, the company qualifies for the Nasdaq-100, which tracks 100 of the largest non-financial companies listed on Nasdaq.

⚖️ Why the Change Matters

The index shift highlights evolving trends in how major companies view their exchange listings. Many firms consider factors such as investor base, liquidity, and trading costs when choosing where to list shares.

Nasdaq-100 membership brings visibility. Index funds and exchange-traded funds (ETFs) that track the Nasdaq-100 will add Walmart’s stock. Therefore, Walmart will gain exposure to a broader set of passive investment flows.

Meanwhile, AstraZeneca exits the benchmark because its U.S. listing structure no longer meets Nasdaq-100 criteria. As a result, the stock will no longer be part of the index from January 20.

📊 Impact on Markets and Investors

Walmart’s move may influence trading volumes. Because many institutional and retail investors follow major indexes, rebalancing flows often occur around changes.

For example, ETFs that track the Nasdaq-100 will buy Walmart shares to match the new index composition. Conversely, funds that previously held AstraZeneca as part of the index will adjust holdings accordingly.

Moreover, analysts say that index inclusion can affect a stock’s visibility and demand. Stocks added to major benchmarks sometimes see short-term buying pressure as funds shift weights.

🧭 Broader Context for Stock Indexes

Indexes like the Nasdaq-100 serve as market barometers. They reflect the performance of large, growth-oriented companies. By contrast, other benchmarks such as the Dow Jones Industrial Average include both financial and industrial firms.

Walmart’s arrival in the Nasdaq-100 continues a trend of broader sector representation. Retail and consumer-oriented companies increasingly share space with technology and services firms in major indexes.

Because indexes shape investment flows worldwide, changes like this attract attention from market participants. As a result, many investors watch rebalancing dates for opportunities tied to index transitions.