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On April 21, 2021, NZX 50 closed its trading session in red as downfall in consumer staples and healthcare sectors weighed over the performance. NZX 50 fell by 1.13% to 12,535.34 and NZX 20 declined by 1.28% to 8,027.91. Also, NZX 10 witnessed a fall of 1.53% to 12,403.53.
Data Source: NZX, Table Source: Kalkine Media Pty Ltd
Gainers:
On April 20, 2021, EROAD Limited (NZX: ERD) published quarterly update for 3 months ended 31st March 2021. The company sold 2,726 contracted units, which implies continued growth throughout its markets and it sold 1,054 ‘MYEROAD Clarity’ Dashcam units in March 2021.
The company is confident with FY 2021 and FY 2022 guidance provided on 26th November 2020 during the half year results release. For H2 of the financial year, the company has been anticipating a small increase in the revenue as compared to H1. The company stated that EBITDA is expected to be similar to the figure of first half (adjusted for the one-off items) implying the acceleration of the product development as well as increased sales and marketing costs related with the roll-outs of the key products.
Data Source: NZX, Table Source: Kalkine Media Pty Ltd
MidCap and SmallCap Outperformed Broader Market:
The broader market, S&P/NZX 50 Index, stood at 12,535.34, which reflects a rise of 18.98% in the span of one year. However, MidCap Index and SmallCap Index claimed at 6207.89 and 21941.97 points, respectively, outperforming the S&P/NZX 50 Index as well as posting the growth of 26.68% and 72.02%, respectively. Notably, this implies resilience in MidCap and SmallCap stocks over the period.
S&P/NZX 50 Index vs SmallCap Index vs MidCap Index – One Year Return
Source: EODHD/Others (Thomson Reuters)
Movements on Wall Street:
On April 20, 2021, Dow Jones Industrial Average declined by 0.75% to 33,821.30. Also, NASDAQ Composite witnessed a fall of 0.92% to 13,786.27.