S&P/NZX 50 Closed Higher by 0.67%, Lifted by Energy

By the end of the trading session on 01 August 2024, the benchmark index S&P/NZX 50 ended higher by 0.67% and settled at 12,487.940. Out of 11 sectors, 09 sectors closed higher along with the index.

Energy and Communications Services were the top-gaining sector, gaining 2.69% and 1.50% respectively in their index values. On the other hand, Consumer Staples and Financials were the top-losing sectors, losing 0.66% and 0.15% respectively in their index values.

Trade Window Holdingd Limited (NZX: TWL) and Marlin Global Limited (NZX: MLN) are the top-gaining stocks, gaining 15.00% and 9.68% in their stock prices. On the other hand, Greenfern Industries Limited (NZX: GFI) and KMD Brands Limited (NZX: KM) are the top-losing stocks and are declining by 14.29% and 3.37% in their stock prices.

Copyright © 2022 Kapitales Research

Top gainers for the day:

• Energy (Up 2.69%)
• Communications Services (Up 1.50%)

Top losers for the day:

• Consumer Staples (Down 0.66%)
• Financials (Down 0.15%)

Other Factors influencing the market:

• The S&P/NZX 50 Index fluctuated throughout the trading day, ultimately closing at 12,405.27, up 14.22 points or 0.11%, after hitting an intraday high of 12,441.5. The market saw 65 gainers and 71 decliners with 43 million shares traded, totaling $162.1 million in value.

• Despite achieving a fourth consecutive sales record, Briscoe Group expects its half-year profits to decline. In an interim trading update on the New Zealand Exchange (NZX), managing director Rod Duke described the sales as a “standout result.” 
• The company forecasts an underlying net profit after tax (NPAT) to be around 94% of last year's $42.75 million for the 26 weeks ending July 28.
• The Government is grappling with significant cost escalations and delays in investment projects. Data released on Thursday indicated that net cost escalations across the portfolio amounted to $1.2 billion, according to a June Cabinet paper based on data from the March 2024 quarter.
• Oil prices spiked by over 5% in late trading following a report by The New York Times that Iran ordered retaliation against Israel after the killing of a Hamas leader on its soil.
• The Dow Jones closed up by 0.24%, while the S&P 500 and NASDAQ increased by 1.58% and 2.64%, respectively. 
• The Hang Seng is up by 2.01%, and the FTSE 100 has risen by 1.13% today.

Top 5 Gainers and Losers Scoreboard:

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com