S&P/NZX 50 Closed Higher by 0.49%, Lifted by Healthcare

By the end of the trading session on 23 August 2024, the benchmark index S&P/NZX 50 ended higher by 0.49% and settled at 12,592.990. Out of 11 sectors, 04 sectors closed higher along with the index.

Healthcare and Energy were the top-gaining sectors, gaining 5.92% and 0.63% respectively in their index values. On the other hand, Communications Services and Utilities were the top-losing sectors, losing 5.25% and 1.50% respectively in their index values.

Fisher & Paykel Healthcare Corporation Limited (NZX: FPH) and PaySauce Limited (NZX: PYS) are the top-gaining stocks, gaining 10.28% and 7.84% in their stock prices. On the other hand, Marlin Global Limited (NZX: MLN) and Winston Land Limited (NZX: WIN) are the top-losing stocks and are declining by 10.53% and 9.95% in their stock prices.

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Top gainers for the day:

• Healthcare (Up 5.92%)
• Energy (Up 0.63%)

Top losers for the day:

• Communications Services (Down 5.25%)
• Utilities (Down 1.50%)

Other Factors influencing the market:

• Mortgage advisers originated 71% of Kiwibank's new home loans for the year ending June 30, now comprising about 35% of the total mortgage portfolio, according to CEO Steve Jurkovich.
• NZX’s Smartshares funds management business increased its funds under management (FUM) by 8.2%, reaching $11.88 billion between December and June 30, with 6.3% of the growth attributed to market improvements.
• Meridian Energy stated that recent rainfall and future forecasts might negate the need to release water from key hydro lakes. The NZX-listed company also believes that initiating a national power conservation campaign is premature and supports Transpower’s decision to ease restrictions on generator access to contingent storage in specific hydro lakes.
• OPEC is unlikely to reverse the production cuts implemented last year, despite increasing output from non-OPEC countries, which is exerting pressure on prices.
• The Dow Jones closed down 0.43%, while the S&P 500 and NASDAQ saw declines of 0.89% and 1.67%, respectively. 
• The Hang Seng dropped by 0.38%, and the FTSE 100 increased by 0.06% today.

Top 5 Gainers and Losers Scoreboard:

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