S&P/NZX 50 Closed Higher by 0.80%, Lifted by Healthcare

By the end of the trading session on 10 July 2024, the benchmark index S&P/NZX 50 ended higher by 0.80% and settled at 11,943.330.  Out of 11 sectors, 07 sectors closed lower along with the index.

Healthcare and Industrials were the top-gaining sector, gaining 2.71% and 0.86% respectively in their index values. Utilities and Information Technology was the top-lossing sectors, lossing 0.99% and 0.78% respectively in their index values. 

RUA Bioscience Limited (NZX: RUA) and Scott Technology Limited (NZX: SCT) are the top-gaining stocks, gaining 16.67% and 7.27% in their stock prices. On the other hand, Blis Technology Limited (NZX: BLT) and New Talisman Gold Mines Limited (NZX: NTL) are the top-losing stocks and are declining by 5.88% and 5.26% in their stock prices.

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Top gainer for the day:

• Healthcare (Up 2.71%)
• Industrials (Up 0.86%)

Top loser for the day:

• Utilities (Down 0.99%)
• Information Technology (Down 0.78%)

Other Factors influencing the market:

• Reserve Bank governor Adrian Orr made headlines with his latest remark: “Inflation concerns should not trouble us, as it is expected to diminish.” The New Zealand sharemarket evidently shared this sentiment.
• June maintained the prevailing trends of the year, with US equity markets extending their bullish streak of 20 months, driven prominently by the technology sector, especially AI-related firms.
• Oil prices stabilized amid indications of another decline in US inventories, though concerns lingered regarding Chinese demand and uncertainties surrounding the timing of US Federal Reserve interest rate adjustments.
• The Dow concluded with a 0.13% decline, while the S&P 500 edged up by 0.07%, and the NASDAQ finished higher by 0.15%.
• Hang Seng traded flat, while the FTSE 100 experienced a 0.66% decline.

Top 5 Gainers and Losers Scoreboard:

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