S&P/NZX 50 Closed Lower by 0.27%, Dragged down by Healthcare

By the end of the trading session on 22 August 2024, the benchmark index S&P/NZX 50 ended lower by 0.27% and settled at 12,469.350. Out of 11 sectors, 06 sectors closed lower along with the index.

Consumer Staples and Materials were the top-gaining sectors, gaining 2.50% and 2.36% respectively in their index values. On the other hand, Healthcare and Financials were the top-losing sectors, losing 0.95% and 0.61% respectively in their index values.

BeingAI Limited (NZX: BAI) and PaySauce Limited (NZX: PYS) are the top-gaining stocks, gaining 15.38% and 13.33% in their stock prices. On the other hand, Black Pearl Group Limited (NZX: BPG) and Greenfern Industries Limited (NZX: GFI) are the top-losing stocks and are declining by 15.88% and 13.33% in their stock prices.

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Top gainers for the day:

• Consumer Staples (Up 2.50%)
• Materials (Up 2.36%)

Top losers for the day:

• Healthcare (Down 0.95%)
• Financials (Down 0.61%)

Other Factors influencing the market:

• The Reserve Bank has initiated a consultation process on deposit taker standards and crisis management.
• A failed buyout bid for Rakon, a listed advanced parts manufacturer, has led to a complaint being filed with the market watchdog. On Thursday afternoon, independent regulator NZRegCo confirmed it is assessing allegations related to Rakon’s market disclosures concerning the conclusion of the non-binding indicative offer (NBIO) process.
• SkyCity CEO Jason Walbridge stated that high-rolling gamblers from China are not returning to New Zealand, leading the company to shift its focus to local punters and those from South Australia.
• Oil prices steadied near their lowest levels since January, as concerns about a potential U.S. economic slowdown offset the boost from declining inventories.
• The Dow Jones closed with a 0.14% gain, while the S&P 500 and NASDAQ rose by 0.42% and 0.57%, respectively.
• The Hang Seng Index increased by 0.58%, and the FTSE 100 rose by 0.12% today.

Top 5 Gainers and Losers Scoreboard:

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