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.

The website https://kalkinemedia.com/nz is a service of Kalkine Media New Zealand Limited (Kalkine Media), Company Number: 8107196. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK