Bloodbath in Consumer Stocks Pulled the Broader NZ Market Lower

1 min read | August 26, 2021 08:28 PM NZST | By Team Kalkine Media

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Bloodbath in Consumer Stocks Pulled the Broader NZ Market Lower — Image source: Copyright © 2021 Kalkine Media Pty Ltd.

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On 26^th August 2021, the broader NZ market was significantly impacted by the selling pressure in the Consumer Staples stocks, followed by Primary Sector stocks, among others. However, some buying was also witnessed in the Energy stocks. Notably, NZX 50 Index fell 1.16% to 13,051.62 and NZX 20 Index declined by 1.38% to 8,283.15. Also, NZX All Consumer Staples witnessed a fall of 7.34%.

Performance of Indices:

NZX 50 Index ended at 13,051.62, reflecting ~8.48% increase in the past 1 year. Also, MidCap Index and SmallCap Index ended at 6,638.64 and 22,655.24 points, respectively.

S&P/NZX 50 Index vs SmallCap Index vs MidCap Index – Performance Over One Year

Source: EODHD/Others

Gainers and Losers:

The a2 Milk Company Limited (NZX: ATM) released results for the 12 months ended 30^th June 2021. It posted net profit from the continuing operations of $80.658 Mn, which implies a significant fall of 79.2% on the YoY basis.

Harmoney Corp Limited (NZX: HMY) rose by 7.14% to NZ$2.100 per share.

Movement on Wall Street:

On 25^th August 2021, NASDAQ Composite rose by 0.15% to 15,041.86. Notably, Dow Jones Industrials Average increased 0.11% to 35,405.50.

Note: The reference data in this article has been partly sourced from EODHD/Others

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