NASDAQ Index Performance 1938-2006

NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business, including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. 

In 1961 the US Congress authorised the Securities and Exchange Commission (SEC) to conduct a study of fragmentation in the over-the-counter market (our data for 1938-1970 refers to this pre-NASDAQ market). The SEC proposed automation as a possible solution and charged the National Association of Securities Dealers, Inc. (NASD) with its implementation.

NASDAQ (originally an acronym for National Association of Securities Dealers Automated Quotations) was founded in 1971 by the National Association of Securities Dealers (NASD), who divested it in a series of sales in 2000 and 2001. It is owned and operated by The Nasdaq Stock Market, Inc. (NASDAQ: NDAQ) which was listed on its own stock exchange in 2002.

Global Financial Data says that NASDAQ initiated its sector indices on February 5, 1971 and all the indices use that date as their base except for the Telecommunications index (formerly the Utilities Index) which was rebased to October 29, 1993 = 200 (the Telecommunications index can be converted into the old Utilities index by multiplying the data by 5.74805). The indices are capitalization weighted and include all shares traded on the NASDAQ; however, because the indices are capitalization weighted, they act more like large-cap tech indices than small-cap indices since Intel, Microsoft and other shares represent a substantial portion of the NASDAQ index. All the primary NASDAQ indices are provided complete from their beginning.

1938-2006

Prior to the introduction of the NASDAQ indices, the National Quotation Board, which oversees the over-the-counter market, kept two indices of OTC stocks, one of 35 industrials and one of 15 insurance stocks. The industrial stock average was introduced on November 7, 1948 using the Dow method of price weighting and a divisor using the OTC stocks with the largest market value, largest number of stockholders and the most substantial quotation records. The index was calculated backwards to October 1, 1938 making calculations on the first, tenth and twentieth of each month.

Date Open High Low Close Volume
12/20/1938 5.6503 6.4437 5.6503 6.0872
--
12/20/1939 6.1514 6.7778 5.3516 6.7071
--
12/20/1940 6.7810 7.3560 5.7917 6.8228
--
12/20/1941 6.8838 7.0525 5.6407 5.6407
--
12/20/1942 5.7531 6.2157 5.3130 6.1514
--
12/20/1943 6.1996 7.8507 6.1996 7.5134
--
12/20/1944 7.6387 9.3090 7.6387 9.3090
--
12/20/1945 9.3160 12.6466 9.3160 12.3928
--
12/20/1946 12.3382 13.8126 10.0479 11.0308
--
12/20/1947 11.0950 12.0748 10.1539 11.6411
--
12/31/1948 11.6540 12.1519 10.5650 10.5650
--
12/31/1949 10.5522 11.3071 8.9268 11.3071
--
12/30/1950 11.2878 13.8897 11.0019 13.8897
--
12/31/1951 13.9315 16.2925 13.9315 15.3416
--
12/31/1952 15.3416 15.9552 14.4743 15.5536
--
12/31/1953 15.5440 16.0098 14.2623 15.1682
--
12/31/1954 15.2003 22.0745 15.2003 22.0745
--
12/30/1955 22.2383 25.8553 21.8593 25.4602
--
12/31/1956 25.5469 30.1950 25.3349 28.3512
--
12/31/1957 28.3126 30.5387 22.9675 23.1056
--
12/31/1958 23.3690 32.8290 23.3690 32.7070
--
12/31/1959 33.1470 35.2189 32.5785 34.9748
--
12/30/1960 35.1129 35.1386 30.6929 34.4609
--
12/29/1961 34.2328 46.2851 34.2328 45.3728
--
12/31/1962 45.4531 46.3558 32.1962 38.5565
--
12/31/1963 38.6078 46.7766 38.5950 46.4393
--
12/31/1964 46.7380 58.0611 46.7380 57.1746
--
12/31/1965 57.4733 69.3634 55.7052 66.9816
--
12/30/1966 66.7966 68.0404 54.4470 63.9341
--
12/29/1967 63.9949 83.0886 63.9328 80.9354
--
12/31/1968 80.8618 103.6530 72.6173 101.7952
--
12/31/1969 101.8541 105.2408 82.3382 99.3891
--
12/31/1970 100.1079 101.9548 66.5744 89.6066
--
12/31/1971 89.8500 114.1200 89.0584 114.1200 33,618
12/29/1972 113.6500 135.1500 113.6500 133.7300 220,346
12/31/1973 134.6300 136.8400 88.6700 92.1900 161,523
12/31/1974 92.5300 96.5300 54.8700 59.8200 116,839
12/31/1975 60.7000 88.0000 60.7000 77.6200 139,000
12/31/1976 78.0600 97.8800 78.0600 97.8800 167,366
12/30/1977 97.6900 105.0500 93.6600 105.0500 192,158
12/29/1978 104.0000 139.2500 99.0900 117.9800 275,521
12/31/1979 117.8400 152.2900 117.8400 151.1400 364,421
12/31/1980 148.1700 208.1500 124.0900 202.3400 673,252
12/31/1981 203.5500 223.4700 175.0300 195.8400 781,916
12/31/1982 195.5300 240.7000 159.1400 232.4100 840,227
12/30/1983 230.5900 329.1100 229.8800 278.6000 1,585,574
12/31/1984 278.6000 288.4099 223.9100 247.3500 1,508,717
12/31/1985 247.3500 325.6100 245.7000 324.3899 2,053,747
12/31/1986 324.3899 411.3300 322.0600 348.8100 2,862,111
12/31/1987 348.8100 456.2700 288.4900 330.4699 3,772,767
12/30/1988 338.4799 397.5400 329.0000 381.3799 3,099,248
12/29/1989 381.3799 487.6000 378.5600 454.8200 3,344,675
12/31/1990 454.8200 470.3000 322.9299 373.8400 3,328,572
12/31/1991 373.8400 586.3500 352.8500 586.3400 4,121,348
12/31/1992 586.3400 676.9498 545.8500 676.9498 4,841,967
12/31/1993 676.7800 791.3000 644.5900 776.8000 6,659,280
12/30/1994 777.2900 804.5300 690.8500 751.9600 7,435,190
12/29/1995 751.3100 1,072.8199 740.5300 1,052.1299 10,116,136
12/31/1996 1,052.8300 1,328.9500 977.7900 1,291.0300 13,816,861
12/31/1997 1,292.6500 1,748.7800 1,196.2200 1,570.3500 16,378,273
12/31/1998 1,574.1000 2,200.6201 1,343.8700 2,192.6799 19,824,402
12/31/1999 2,207.5400 4,090.6101 2,205.6799 4,069.3101 26,588,650
12/29/2000 4,186.1802 5,132.5200 2,288.1599 2,470.5200 43,712,305
12/31/2001 2,474.1599 2,892.3601 1,387.0601 1,950.4000 46,506,950
12/31/2002 1,965.1801 2,098.8799 1,108.4900 1,335.5100 43,211,214
12/31/2003 1,346.9301 2,015.2300 1,253.2200 2,003.3700 41,593,628
12/31/2004 2,011.4301 2,185.5601 1,750.8199 2,175.4399 44,590,897
12/30/2005 2,185.5500 2,278.1599 1,889.8300 2,205.3201 43,642,262
08/18/2006 2,216.5300 2,375.5400 2,012.7800 2,163.9500 26,601,917

Source: Global Financial Data

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