S&P/NZX 50 Closed Lower by 0.76%, Dragged down by Materials

By the end of the trading session on 21 June 2024, the benchmark index S&P/NZX 50 ended lower by 0.76% and settled at 11,682.390.  Out of 11 sectors, 08 sectors closed higher along with the index.

Consumer Discretionary and Financials were the top-gaining sector, gaining 2.51% and 0.50% respectively in their index values. Materials and Consumer Staples was the top-lossing sectors, lossing 3.38% and 2.15% respectively in their index values. 

Greenfern Industries Limited (NZX: GFI) and My Food Bag Group Limited (NZX: MFG) are the top-gaining stocks, gaining 13.33% and 6.54% in their stock prices. On the other hand, Blis Technologies Limited (NZX: BLT) and Bein Ai Limited (NZX: BAI) are the top-losing stocks and are declining by 10.53% and 9.52% in their stock prices.

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Top gainer for the day:

• Communications Discretionary (Up 2.51%)
• Financials (Up 0.50%)

Top loser for the day:

• Materials (Down 3.38%)
• Consumer Staples (Down 2.15%)

Other Factors influencing the market:

• The Retirement Commissioner has proposed improvements for KiwiSaver and seeks support from financial services industry members to encourage politicians to review it.
• AMP Wealth Management NZ is the first major non-bank KiwiSaver provider in New Zealand to offer term deposits.
• Oil prices are set for consecutive weekly gains due to unexpected declines in US inventory levels and strong demand indicators from the world's largest oil consumer.
• The Dow closed up by 0.77%, the S&P 500 closed down by 0.25%, and the NASDAQ ended lower by 0.81%.
• The Hang Seng is down 1.46%, while the FTSE 100 is up 0.82% today.

Top 5 Gainers and Losers Scoreboard:

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