Broad-based Buying Supports NZ Market

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Broad-based Buying Supports NZ Market

 Broad-based Buying Supports NZ Market
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

On 1st March 2022, the broader stock market of NZ ended in green after significant buying was witnessed in the communications stocks. On the same day, NZX 50 Index and NZX 20 Index rose by 1.81% and 2.01%, respectively. Also, NZX All Communications Services witnessed an increase of 2.52%.

Major S&P/NZX Indices Movement

Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media

Performance of Indices:

NZX 50 Index closed at 12,197.92, implying ~0.85% decline in the time frame of the previous 1 year. MidCap Index and SmallCap Index closed at 6,055.09 and 21,823.67 points, respectively.

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

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

Source: REFINITIV

Gainers and Losers:

Geo Limited (NZX: GEO) has recently released results for the 6 months ended 31st December 2021. The company’s total revenues fell by 21.0% as compared to pcp to $1.7 Mn because of recognition in pcp of one-off COVID subsidies which were received as well as the divestment of the Geo for Sales business.

Pushpay Holdings Limited (NZX: PPH) rose by 6.45% to NZ$0.990 per share.

 Top 5 Gainers and Losers on 1 March 2022

Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media

Movement on Wall Street:

On 28th February 2022, NASDAQ Composite Index increased 0.41% to 13,751.40. Notably, Dow Jones Industrials Average declined 0.49% to 33,892.60.

Note: The reference data in this article has been partly sourced from REFINITIV

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