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On April 16, 2021, NZX 50 reversed its early morning losses and traded in a positive range for rest of the trading session and closed with a gain of 0.38% to 12,684.73. Further, NZX 20 rose by 0.40% to 8135.05. However, on the same day, NZX 10 witnessed an increase of 0.52% to 12,608.06.
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 12,684.73, reflecting an increase of 21.12% in one year, while MidCap Index and SmallCap claimed at 6,234.82 and 21,739.60 points, respectively, outperforming the S&P/NZX 50 Index and reporting a growth of 29.28% and 73.26%, respectively, indicating strong 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)
Gainers
Napier Port Holdings Limited (NZX: NPH) on 16 April 2021 announced an upgrade to the earnings guidance for the year ended 30th September 2021 as Hawke’s Bay as well as the broader regional economy benefit on the back of robust market conditions of the primary sector. The company is anticipating to post the result from operating activities for the half year ended 31st March 2021 of ~$21 million, which is lower than $21.7 million reported in H1FY20. In the current year, the absence of cruise vessels calling at Napier Port because of border closures was primarily offset by the rise in the bulk cargo revenue.
On April 16, 2021, Geo Limited (NZX: GEO) announcement that it has agreed the long term incentive as well as retention package with Chief Revenue Officer Scott Player, leading to multi-year equity incentives aligned to the minimum targets of growth in revenue.
Also Read: Is NZX 50 Rising on Cues from Positive Monetary Policy Update?
Data Source: NZX, Table Source: Kalkine Media Pty Ltd
Movements on Wall Street:
On April 15, 2021, Dow Jones Industrials Average rose by 0.90% to 34,035.99. Notably, NASDAQ Composite witnessed a rise of 1.31% to 14,038.76.