S&P/NZX 50 Closed Higher by 0.87%, Lifted by Information Technology

By the end of the trading session on 09 July 2024, the benchmark index S&P/NZX 50 ended lower by 0.87% and settled at 11,848.130.  Out of 11 sectors, 10 sectors closed lower along with the index.

Information Technology and Consumer Staples were the top-gaining sector, gaining 1.71% and 1.32% respectively in their index values. Consumer Discretionary was the top-lossing sectors, lossing 0.67% respectively in their index values. 

RUA Bioscience Limited (NZX: RUA) and Greenfern Industries Limited (NZX: GFI) are the top-gaining stocks, gaining 39.53% and 6.25% in their stock prices. On the other hand, Being AI Limited (NZX: BAI) and Move Logistics Group Limited (NZX: MOV) are the top-losing stocks and are declining by 7.25% and 5.77% in their stock prices.

Copyright © 2022 Kapitales Research

Top gainer for the day:

• Information Technology (Up 1.71%)
• Consumer Staples  (Up 1.32%)

Top loser for the day:

• Consumer Discretionary (Down 0.67%)

Other Factors influencing the market:

• The Reserve Bank is expected to avoid a dovish stance at its Monetary Policy Review, aligning with recent market expectations of a 60% chance of easing the OCR in October and approximately 38 basis points anticipated by year-end.
• With long-term wage growth lagging behind the cost of living, New Zealand investors are turning to financial markets to build wealth, according to a report by the Australian investment platform Stake.
• The New Zealand sharemarket rose nearly 1% on a quiet day for company news, aided by a sharp recovery in Australia.
• Oil prices stabilized after a two-day decline as storm Beryl subsided, ahead of Federal Reserve Chair Jerome Powell’s report on monetary policy, which will influence broader sentiment toward risk assets including commodities.
• The Dow closed down by 0.08%, the S&P 500 closed up by 0.10%, and the NASDAQ ended higher by 0.27%.
• The Hang Seng is down by 1.55%, and the FTSE 100 is down by 0.13%.

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