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S&P/NZX 50 Closed loser by 0.26%, Dragged down by Consumer Staples

Sep 17, 2024

By the end of the trading session on 17 September 2024, the benchmark index S&P/NZX 50 ended lower by 0.26% and settled at 12,671.950. Out of 11 sectors, 07 sectors closed lower along with the index.

Information Technology and Financials were the top-gaining sectors, gaining 0.78% and 0.77% respectively in their index values. On the other hand, Consumer Staples and Consumer Discretionary  were the top-losing sectors, losing 1.68% and 1.35% respectively in their index values.

Pacific Edge Limited (NZX: PEB) and Black Peal Group Limited (NZX: BPG) are the top-gaining stocks, gaining 15.38% and 10.46% in their stock prices. On the other hand, Barramundi Limited (NZX: BRM) and Blis Technologies Limited (NZX: BLT) are the top-losing stocks and are declining by 12.50% and 9.09% in their stock prices.

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Top gainers for the day:

  • Information Technology (Up 0.78%)
  • Financials (Up 0.77%)

Top losers for the day:

  • Consumer Staples (Down 1.68%)
  • Consumer Discretionary (Down 1.35%)

Other Factors influencing the market:

  • Fund managers are requesting a postponement of the government's audit requirement for emissions data in climate reports for funds.
  • Health insurer nib has restructured its organization to better support advisers and prepare for the launch of its Life and Living Benefits suite in early 2025.
  • Donald Trump was the headline speaker at an event introducing a crypto platform promoted by the Republican nominee and his sons, drawing attention to a niche area of digital assets with a contentious background.
  • Oil prices surged this morning due to a continued decline in Libyan exports and rising expectations that the Federal Reserve will implement more aggressive rate cuts this week.
  • The Dow closed with a 0.55% increase, the S&P 500 rose by 0.13%, while the NASDAQ finished down by 0.51%.
  • The Hang Seng Index increased by 0.31%, and the FTSE 100 saw a slight rise of 0.06%.

Top 5 Gainers and Losers Scoreboard:

 

 

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