S&P/NZX 50 Closed Lower by 0.47%, Dragged down by Consumer Discretionary

By the end of the trading session on 24 June 2024, the benchmark index S&P/NZX 50 ended lower by 0.47% and settled at 11,627.860.  Out of 11 sectors, 06 sectors closed higher along with the index.

Materials and Information Technology  were the top-gaining sector, gaining 1.27% and 0.53% respectively in their index values. Consumer Discretionary and Healthcare was the top-lossing sectors, lossing 2.62% and 1.47% respectively in their index values. 

Radius Residential Care Limited (NZX: RAD) and Accordant Group Limited (NZX: AGL) are the top-gaining stocks, gaining 16.56% and 8.43% in their stock prices. On the other hand, Barramundi Limited (NZX: BRM) and KMD Brands Limited (NZX: KMD) are the top-losing stocks and are declining by 10.00% and 8.75% in their stock prices.

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Top gainer for the day:

• Materials (Up 1.27%)
• Information Technology (Up 0.53%)

Top loser for the day:

• Communications Discretionary (Down 2.62%)
• Healthcare (Down 1.47%)

Other Factors influencing the market:

• The momentum in the US market remains very strong, similar to the peak rally in 1999 to early 2000 before the "dot com" crash.
• On June 24, Serko will mark 10 years since listing on the New Zealand Exchange. The business travel software company has experienced significant highs and lows, ranging from $0.25 per share to $8.32, but is now stabilizing.
• Dame Jacinda Ardern supports the new US documentary, noting it isn't funded by New Zealand taxpayers and emphasizes her human story: “We’ve stopped seeing people in public life as human."
• Oil prices fell for a second session due to a risk-off tone in broader markets and increased attacks on ships near Yemen.
• The Dow closed up by 0.04%, the S&P 500 closed down by 0.16%, and the NASDAQ ended lower by 0.16%.
• Hang Seng declined by 1.67%, and the FTSE 100 decreased by 0.42%.

Top 5 Gainers and Losers Scoreboard:

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