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AUS 200 Explained: Key Facts About Australia's Top Stock Market Index

Pepperstone
Market Analyst
Apr 11, 2024
The AUS 200 tracks the performance of the 200 largest companies listed on the Australian Securities Exchange (ASX). These influential companies collectively represent over 80% of the total market capitalization of the Australian equity market.

AUS 200

The AUS 200 – also known as the S&P/ASX 200, AXJO or AU200– is a critical benchmark for Australian markets (Australian shares). It's a float-adjusted market capitalization-weighted index, meaning the influence of each of the 200 largest companies listed on the Australian Securities Exchange (ASX) is reflected by their market capitalisation, with adjustments made for freely available shares. Together, these stocks account for over 80% of the entire Australian equity market’s market capitalisation.

The index was first calculated in March 2000, with a value of 3133, which at the time was equivalent to the value of the ‘All Ordinaries’ index, the oldest Australian equity index, comprised of the largest 500 listed securities on the ASX.

Being a cap-weighted index, the larger the market capitalisation of a stock within the AUS 200, the greater its contribution to the total value of the overall index. In order to be eligible for inclusion in the index, a stock must be listed on the ASX, as well as having a significant daily trading volume.

Market participants closely watch the AUS 200 as a barometer of the Australian economy's health. Its performance can be influenced by various factors, including decisions by central banks regarding rate cuts and overall economic conditions.

Recent performance, on a total return basis for the AUS 200, though not a firm predictor of future results, is shown below.

Preview

In terms of index weightings, the top 50 largest stocks are as follows.

StockWeighting as of 27/02/2024
BHP GROUP LIMITED Stock BHP Group Limited11.30%
COMMONWEALTH BANK OF AUSTRALIA Stock Commonwealth Bank of Australia8.30%
CSL LIMITED Stock CSL Limited6.12%
NATIONAL AUSTRALIA BANK LIMITED Stock National Australia Bank Limited4.26%
WESTPAC BANKING CORPORATION Stock Westpac Banking Corporation3.56%
ANZ GROUP HOLDINGS LIMITED Stock ANZ Group Holdings Limited3.45%
MACQUARIE GROUP LIMITED Stock Macquarie Group Limited2.94%
WESFARMERS LIMITED Stock Wesfarmers Limited2.87%
WOODSIDE ENERGY GROUP LTD Stock Woodside Energy Group Ltd2.61%
RIO TINTO GROUP Stock Rio Tinto Group2.23%
FORTESCUE LTD Stock Fortescue Ltd2.18%
TELSTRA GROUP LIMITED Stock Telstra Group Limited2.02%
WOOLWORTHS GROUP LIMITED Stock Woolworths Group Limited2.00%
GOODMAN GROUP Stock Goodman Group1.93%
TRANSURBAN GROUP Stock Transurban Group1.86%
ARISTOCRAT LEISURE LIMITED Stock Aristocrat Leisure Limited1.19%
SANTOS LIMITED Stock Santos Limited1.10%
JAMES HARDIE INDUSTRIES PLC Stock James Hardie Industries plc1.10%
QBE INSURANCE GROUP LIMITED Stock QBE Insurance Group Limited0.97%
NEWMONT CORPORATION Stock Newmont Corporation0.96%
COLES GROUP LIMITED Stock Coles Group Limited0.96%
COCHLEAR LIMITED Stock Cochlear Limited0.88%
BRAMBLES LIMITED Stock Brambles Limited0.85%
SUNCORP GROUP LIMITED Stock Suncorp Group Limited0.77%
NORTHERN STAR RESOURCES LIMITED Stock Northern Star Resources Limited0.70%
XERO LIMITED Stock Xero Limited0.70%
SCENTRE GROUP Stock Scentre Group0.69%
SONIC HEALTHCARE LIMITED Stock Sonic Healthcare Limited0.68%
SOUTH32 LIMITED Stock South32 Limited0.68%
ORIGIN ENERGY LIMITED Stock Origin Energy Limited0.65%
COMPUTERSHARE LIMITED Stock Computershare Limited0.61%
INSURANCE AUSTRALIA GROUP LIMITED Stock Insurance Australia Group Limited0.61%
WISETECH GLOBAL LIMITED Stock WiseTech Global Limited0.60%
RESMED INC. Stock ResMed Inc.0.56%
MINERAL RESOURCES LIMITED Stock Mineral Resources Limited0.54%
ASX LIMITED Stock ASX Limited0.54%
CAR GROUP LIMITED Stock CAR Group Limited0.53%
PILBARA MINERALS LIMITED Stock Pilbara Minerals Limited0.49%
THE LOTTERY CORPORATION LIMITED Stock The Lottery Corporation Limited0.48%
APA GROUP Stock APA Group0.47%
BLUESCOPE STEEL LIMITED Stock BlueScope Steel Limited0.47%
STOCKLAND Stock Stockland0.47%
RAMSAY HEALTH CARE LIMITED Stock Ramsay Health Care Limited0.43%
MEDIBANK PRIVATE LIMITED Stock Medibank Private Limited0.43%
SEEK LIMITED Stock SEEK Limited0.43%
QANTAS AIRWAYS LIMITED Stock Qantas Airways Limited0.42%
REA GROUP LIMITED Stock REA Group Limited0.42%
THE GPT GROUP Stock The GPT Group0.39%
AMCOR PLC Stock Amcor plc0.38%

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