UPDATE 1-Nasdaq to rebalance index, to cut Apple’s weighting

(Adds detail)

APRIL 5 – Exchange operator Nasdaq OMX Group Inc (NDAQ.O: Quote, Profile, Research)
said on Tuesday it will rebalance its benchmark Nasdaq-100
index, cutting the weighting of Apple Inc (AAPL.O: Quote, Profile, Research).

Once the rebalancing is effective, the projected weight of
Apple will be 12.33 percent of the index compared with a current
weight of 20.49 percent, Nasdaq said in a document hosted on its
website.

Apple will continue to remain the largest component of the
Nasdaq-100 index.

“Nasdaq decided to enact a special rebalance in order to
bring the weights of the index securities closer in line with
their actual market capitalizations,” the exchange said.

The special rebalancing of the NASDAQ-100 Index will be
enacted based on index securities and shares outstanding as of
March 31, the company said.

The exchange said the rebalancing would take effect on May
2.
(Reporting by Sakthi Prasad in Bangalore; Editing by David
Holmes)

UPDATE 1-Nasdaq to rebalance index, to cut Apple’s weighting