S&P/NZX 50 Closed Lower by 0.99%, Dragged down by Utilities

By the end of the trading session on 27 June 2024, the benchmark index S&P/NZX 50 ended lower by 0.99% and settled at 11,717.430.  Out of 11 sectors, 09 sectors closed higher along with the index.

Consumer Discretionary and Communications services were the top-gaining sector, gaining 1.88% and 0.35% respectively in their index values. Utilities and Industrials was the top-lossing sectors, lossing 1.76% and 1.12% respectively in their index values. 

Pacifice Edge Limited (NZX: PEB) and Greenfern Industries Limited (NZX: GFI) are the top-gaining stocks, gaining 6.67% and 6.67% in their stock prices. On the other hand, Marlin Global Limited (NZX: MLN) and New Talisman Gold Mines Limited (NZX: NTL) are the top-losing stocks and are declining by 11.76% and 8.00% in their stock prices.

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Top gainer for the day:

• Consumer Discretionary (Up 1.88%)
• Communications Services (Up 0.35%)

Top loser for the day:

• Utilities (Down 1.76%)
• Industrials (Down 1.12%)

Other Factors influencing the market:

• Finance Advice New Zealand (FANZ) urges the government to classify all life, health, and disability policies as consumer contracts.
• Jeff Royle, Resimac New Zealand’s top writer, comments that the lender offers great products but is attempting to operate like a bank.
• Nikko AM aims for KiwiSaver growth by hiring a key figure to drive the new multi-manager GoalsGetter scheme.
• Despite an unexpected rise in U.S. gasoline supplies, oil prices settled slightly higher as investors feared that an escalation in the Gaza conflict might disrupt crude supplies from the Middle East.
• The Dow closed up by 0.04%, the S&P 500 rose by 0.16%, and the NASDAQ increased by 0.48%.
• The Hang Seng dropped by 1.94%, while the FTSE 100 fell by 0.27% today.

Top 5 Gainers and Losers Scoreboard:

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