NASDAQ-100 closed at 12302.48 yesterday. The previous close was 12290.81. So it gained 11.67 points yesterday. Now percentage wise, the highest price gain was by Enphase Energy, Inc. (ENPH) 3.77% 1.11 Billion, but the increase in market capitalization was highest by Apple (AAPL) 1.85% 41.5 Billion.
According to Wikipedia, NASDAQ-100 is "modified capitalization-weighted index." So am I right in my inference that though ENPH went up by 3.77%, this would have a much lesser impact on the index price than AAPL going up by 1.85%?
Similarly, Dexcom (DXCM) was the biggest loser at -7.87% (-3.63 B), but Tesla was biggest loser as per market cap -2.01% ( -13.98 B).
Smaller changes in bigger companies ( by market cap ) impacts the index more. Would this be a correct assumption?
Submitted March 07, 2023 at 04:16AM by Yudhamanyu https://ift.tt/zgidA2Y
