Financial services firm Meitav said that its New York-40 Online index dropped 4.5% in January, while the Nasdaq dropped 0.8%.

The weighted index includes the 40 Israeli shares with the biggest market cap trading in New York. The top five companies are Amdocs (NYSE:DOX), Comverse Technology (Nasdaq:CMVT), Teva Pharmaceuticals (Nasdaq:TEVA), Check Point Software Technologies (Nasdaq:CHKP), and Mercury Interactive (Nasdaq:MERQ).

Each has a weight of 9% on the index, which is the heaviest any one company can have on this index.

Top January gainers are: Precise Software Solutions (Nasdaq:PRSE), up 20.8%, TTI Telecom International (Nasdaq:TTIL), which climbed 14.9%, Mercury with 12.1% gains, and Amdocs, which rose by 6.5%.

The biggest losers: Given Imaging (Nasdaq:GIVN), which dropped 26.7%, Fundtech (Nasdaq:FNDT), which fell 25.8%, AudioCodes (Nasdaq:AUDC), which dropped 23.7%, and Ceragon Networks (Nasdaq:CRNT), which in January lost 23.7%.

The Europe-15 online index plunged in January 18.4%.

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