S&P/NZX 50 Closed Higher by 0.51%, Lifted by Utilities

By the end of the trading session on 16 July 2024, the benchmark index S&P/NZX 50 ended higher by 0.51% and settled at 12,184.490.  Out of 11 sectors, 04 sectors closed lower along with the index.

Utilities and Information Technology were the top-gaining sector, gaining 2.40% and 1.54% respectively in their index values. Communications Services and Real Estate was the top-lossing sectors, lossing 0.90% and 0.67% respectively in their index values. 

Barramundi Limited (NZX: BRM) and Greenfern Industries Limited (NZX: GFI) are the top-gaining stocks, gaining 25.00% and 16.00% in their stock prices. On the other hand, Marlin Global Limited (NZX: MLN) and Blis Technologies Limited (NZX: BLT) are the top-losing stocks and are declining by 10.34% and 6.25% in their stock prices.

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Top gainer for the day:

• Utilities (Up 2.40%)
• Information Technology (Up 1.54%)

Top loser for the day:

• Communications Services (Down 0.90%)
• Real Estate (Down 0.67%)

Other Factors influencing the market:

• The New Zealand sharemarket, having faced challenges due to a weakening economy and stringent monetary policy, reached a 17-month high as key stocks surged late in the day.
• The S&P/NZX 50 Index experienced strong momentum by mid-afternoon, closing at 12,184.49, which was an increase of 61.34 points or 0.51%, after hitting an intraday low of 12,085.65.
• The index's current level was last seen on February 10 of the previous year at 12,178.7 points, and it has now risen by 3.5% for the year.
• On the main board, there were 84 stocks that gained and 56 that declined, with 25.7 million shares worth NZ$100.23 million changing hands.
•  The Dow has closed up by 0.53%, the S&P 500 closed up by 0.28%, and the NASDAQ ended higher by 0.42%.
• The Hang Seng is down -1.60%, and the FTSE 100 is down -0.49% today.

Top 5 Gainers and Losers Scoreboard:

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