Fall in Information Technology Sector Weighed Over Broader Market

 

On 14th May 2021, the broader market ended the session in red after selling pressure was witnessed in information technology sector. Notably, profit booking was also witnessed in financials and healthcare sectors. NZX 50 declined by 0.48% to 12,367.86 and NZX 20 fell by 0.54% to 7,921.47. However, NZX 10 witnessed a fall of 0.79% to 12,186.18.

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

MidCap and SmallCap Outperformed Broader Market:

NZX 50 Index closed at 12,367.86, reflecting ~15.10% growth in the time span of 1 year. Also, MidCap Index and SmallCap Index claimed the levels of 6,156.42 and 21,739.28 points, respectively. NZX MidCap Index rose by 23.72% and NZX SmallCap Index increased by 65.58%.

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

Source: Refinitiv (Thomson Reuters) 

Gainers and Losers:

In the release dated 7th May 2021, My Food Bag Group Limited (NZX: MFB) stated that it would release its annual results for the financial year ended 31st March 2021 on 21st May 2021.

On 5th May 2021, MFB announced that Louise 'Chorizo' Cunningham, Chief Marketing & Customer Officer, gave notice that she would resign and the last day would be 16th July.

On 10th May 2021, Accordant Group Limited (NZX: AGL) announced the appointment of Patrick McCann to the post of Company Secretary and Legal Counsel.

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

Movements on Wall Street:

On 13th May 2021, NASDAQ Composite Index rose by 0.72% to 13,124.99. Notably, Dow Jones Industrial Average increased by 1.29% to 34,021.45.


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