S&P/NZX 50 Closed Higher by 0.30%, Lifted by Information Technology

By the end of the trading session on 18 July 2024, the benchmark index S&P/NZX 50 ended higher by 0.30% and settled at 12,329.440. Out of 11 sectors, 09 sectors closed higher along with the index.

Information Technology and Consumer Discretionary were the top-gaining sector, gaining 1.63% and 0.99% respectively in their index values. On the other hand, Energy and Healthcare were the top-losing sectors, losing 0.67% and Healthcare 0.38% respectively in their index values.

Greenfern Industries Limited (NZX: GFI) and Blis Technologies Limited (NZX: BLT) are the top-gaining stocks, gaining 16.13% and 14.29% in their stock prices. On the other hand, RUA Bioscience Limited (NZX: RUA) and Vital Limited (NZX: VTL) are the top-losing stocks and are declining by 6.78% and 5.66% in their stock prices.

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Top gainers for the day:

• Information Technology (Up 1.63%)
• Consumer Discretionary (Up 0.99%)

Top losers for the day:

• Energy (Up 0.67%)
• Healthcare  (Up 0.38%)

Other Factors influencing the market:

• The S&P/NZX 50 Index dipped in the morning and recovered in the afternoon, closing at 12,329.44, up 37.41 points or 0.3%, aided by a late rise in the broker matching session.
• So far in July, the index has climbed 5.1%. If this momentum continues, it will be the best month since November last year.
• Chorus, unchanged at NZ$7.96, stated there was no error in applying the fibre input methodologies to its pass-through costs, contrary to the Commerce Commission’s draft decision on the price-quality path.
• In the retirement village sector, Oceania Healthcare increased by 3c or 5.17% to 61c, while Summerset decreased by 14c to NZ$10.40.
• This month, Ryman Healthcare has risen 20%, Oceania 17%, Arvida Group over 10%, and Summerset 9%.
• Oil prices remained steady on Wednesday after Brent crude hit a one-month low the previous day, as a decline in U.S. oil stockpiles balanced signs of weakening demand in China.
• The Dow closed up by 1.85%, the S&P 500 increased by 0.64%, and the NASDAQ ended higher by 0.21%.
• The Hang Seng rose by 0.49%, and the FTSE 100 increased by 0.28% today.

Top 5 Gainers and Losers Scoreboard:

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