Walmart (NYSE:WMT) shares climbed about 3.6% on Monday morning after the retail giant was named as a new constituent of the Nasdaq-100 Index, with the change set to take effect on January 20, 2026.
The world’s largest retailer will take the place of AstraZeneca (NASDAQ:AZN) in the high-profile index, which tracks the performance of 100 of the largest non-financial companies listed on the Nasdaq Stock Market. In addition, Walmart will be added to the Nasdaq-100 Equal Weighted Index and the Nasdaq-100 Ex-Tech Sector Index.
Nasdaq said the index changes will become effective before the market opens on Tuesday, January 20, 2026, following the Martin Luther King Jr. Day holiday.
Inclusion in flagship indices such as the Nasdaq-100 typically supports demand for a stock, as index-tracking funds and other passive investment strategies adjust their holdings to reflect the new composition. The Nasdaq-100 spans a broad mix of industries, including technology, retail, healthcare, telecommunications, biotechnology and media.
Although Walmart has long been listed on the New York Stock Exchange, the company has significantly expanded its e-commerce operations and digital capabilities in recent years. Its addition to the technology-heavy Nasdaq-100 highlights its transformation into a business that increasingly blends large-scale retail with technology-driven services.
As part of the reshuffle, AstraZeneca will also be removed from several other Nasdaq indices, including the Nasdaq-100 ESG Index, Nasdaq-100 ex Top 30 and the Nasdaq-100 Sustainable ESG Select.