S&P/NZX 50 Closed Higher by 1.01%, Lifted by Utilities

By the end of the trading session on 26 June 2024, the benchmark index S&P/NZX 50 ended higher by 1.01% and settled at 11,835.020.  Out of 11 sectors, 06 sectors closed higher along with the index.

Utilities and Energy were the top-gaining sector, gaining 1.81% and 1.36% respectively in their index values. Consumer Discretionary and Information Technology was the top-lossing sectors, lossing 2.17% and 2.10% respectively in their index values. 

Geneva Finance Limited (NZX: GFL) and PGG Wrighton Limited (NZX: PGW) are the top-gaining stocks, gaining 27.50% and 6.37% in their stock prices. On the other hand, Synlait Milk Limited (NZX: SML) and Blis Technologies Limited (NZX: BLT) are the top-losing stocks and are declining by 15.79% and 10.53% in their stock prices.

Copyright © 2022 Kapitales Research

Top gainer for the day:

• Utilities (Up 1.81%)
• Energy (Up 1.36%)

Top loser for the day:

• Consumer Discretionary (Down 2.17%)
• Information Technology (Down 2.10%)

Other Factors influencing the market:

• Simon Haines, chair of Boutique Investment Group, highlights that the government's consultation on reforming financial services conduct regulation includes significant proposals that have not been widely publicized but could impact the entire market.
• The Board of Directors of AFC Group Holdings Limited (NZX: AFC) announces substantial financial improvements for the year ending 31 March 2024.
• EROAD has secured a contract for at least 5,000 units for an Australian fleet and an additional renewal for 6,000 units for a New Zealand fleet, though the customer's name remains confidential due to agreement terms.
• Oil prices are rising today, driven by anticipated strong demand during the northern summer and concerns about supply due to Middle East tensions and drone attacks on Russian refineries.
• The Dow has closed up by 0.67%, the S&P 500 closed down by 0.31%, and the NASDAQ ended lower by 1.07%.
• The Hang Seng is down by 0.05%, and the FTSE 100 is down by 0.41% today.

Top 5 Gainers and Losers Scoreboard:

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com