S&P/NZX 50 Closed Lower by 0.03%, Dragged down by Consumer Discretionary

By the end of the trading session on 19 July 2024, the benchmark index S&P/NZX 50 ended higher by 0.03% and settled at 12,325.600. Out of 11 sectors, 06 sectors closed higher along with the index.

Consumer Discretionary and Real Estate were the top-gaining sector, gaining 2.90% and 0.98% respectively in their index values. On the other hand, Consumer Staples and Materials were the top-losing sectors, losing 1.75% and Healthcare 0.98% respectively in their index values.

Marlin Global Limited (NZX: MLN) and The Warehouse Group Limited (NZX: WHS) are the top-gaining stocks, gaining 11.54% and 10.48% in their stock prices. On the other hand, Being AI Limited (NZX: BAI) and RUA Bioscience Limited (NZX: RUA) are the top-losing stocks and are declining by 11.67% and 9.09% in their stock prices.

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Top gainers for the day:

• Consumer Discretionary (Up 2.90%)
• Real Estate (Up 0.98%)

Top losers for the day:

• Consumer Staples (Down 1.75%)
• Materials (Down 0.98%)

Other Factors influencing the market:

• A passive investment strategy benefited investors in Simplicity's growth and balanced KiwiSaver funds during the June quarter, as well as those in its newer default fund, established after being chosen as one of six default managers two years ago.
• The New Zealand sharemarket ended flat after significant gains over two weeks, thanks to a late-day rescue. Retail stocks experienced a revival. Following a correction on Wall Street, the S&P/NZX 50 Index fell in the early morning but surged in the end-of-day broker matching session, closing at 12,261.23, down 3.84 points (0.03%), after hitting an intraday low of 12,224.36.
• The index was up nearly 1.5% for the week and has gained over 4.5% for the year, with 72 gainers and 68 decliners.
• Oil prices rebounded from three-week lows as technical levels provided a floor for losses, and a government report showed a continued decline in US crude stockpiles. 
• The Dow closed down 1.29%, the S&P 500 decreased by 0.78%, and the NASDAQ ended 0.70% lower. 
• In contrast, the Hang Seng rose by 0.22%, and the FTSE 100 increased by 0.21%.

Top 5 Gainers and Losers Scoreboard:

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