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On 27th April 2021, NZX 50 ended the trading session in red as heavy selling was witnessed in All Consumer Staples sector. It looks like the performance of this sector weighed over NZX 50. On 27th April 2021, NZX 50 declined by 0.24% to 12,620.52 and NZX 20 fell by 0.39% to 8,085.19. However, NZX 10 witnessed a fall of 0.51% to 12,503.98. It can be said that market players continue to track the US Federal Reserve meet which will be for 2 days (27th April 2021-28th April 2021).
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 12,620.52, implying 17.30% increase in the span of 1 year. However, MidCap Index and SmallCap Index claimed at 6,235.46 and 21,859.46 points, respectively, outperforming the NZX 50 as well as posting the growth of 27.38% and 71.21%, respectively. Resultantly, it can be said that MidCap and SmallCap are resilient.
S&P/NZX 50 Index vs SmallCap Index vs MidCap Index – One Year Return
Source: EODHD/Others (Thomson Reuters)
Gainers and Losers:
On 27th April 2021, Geo Limited (NZX: GEO) made an announcement that its Non-Executive Chair as well as major shareholder, Roger Sharp, notified the Board about the intention to retire as Chair on or before AGM in the month of November 2021. Mr. Sharp, whose investor group is the company’s largest shareholder, plans to seek re-election as the Non-Executive Director at the AGM.
On 27th April 2021, SMW Group Limited (NZX: SMW) announced that it has entered into the conditional agreement to acquire Sarina Crane Hire for the purchase price amounting to A$35.8 million.
Data Source: NZX, Table Source: Kalkine Media Pty Ltd
Movements on Wall Street:
On 26th April 2021, NASDAQ Composite rose by 0.87% to 14,138.78. Notably, Dow Jones Industrial Average declined by 0.18% to 33,981.57.
Also Read: Buying in Materials and Utilities Stocks, Pulled NZX 50 Up