its purely based on market cap.
as sp rises the market cap rises. as some other companies market cap falls and xero's rises, xero enters the asx 200 and someone else gets kicked out.
this mandates a whole lot of index fund buying and large cap fund buying, because even some active funds have an investment mandate not to invest outside the asx200.
im very late to this party as i have been sitting on my hands since high teens stupidly hoping for a bargain buy in, but im sure there is a lot further for the sp to run over the next few years.
Ann: Interim Report H1 FY18, page-18
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Last
$136.40 |
Change
0.960(0.71%) |
Mkt cap ! $20.81B | |||
| Open | High | Low | Value | Volume |
| $136.52 | $137.38 | $135.44 | $36.87M | 270.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 178 | $136.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $136.40 | 768 | 1 |
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| XRO (ASX) Chart |