New Zealand Shares Fell For a Second Day in a Row on Thursday

On 6th May 2021, NZX 50 ended the session in red as there was a decline of 0.75% to 12,751.67. Notably, this is the second consective fall in the broader market. However, buying in energy stocks provided some support to benchmark Index. On 6th May, 2021, NZX 20 declined by 0.88% to 8,183.32 and NZX 10 fell by 0.91% to 12,630.91.

Data Source: NZX, Table Source: Kalkine Media Pty Ltd

MidCap and SmallCap Outperformed Broader Market:

NZX 50 Index managed to close at 12,751.67, reflecting an increase of ~20.61% in the time span of 1 year. Also, MidCap Index and SmallCap Index claimed the levels of 6,305.04 and 22,023.85 points, respectively. Resultantly, it can be said that the Smallcap and Midcap stocks have been more resilient in nature.

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

Data Source: NZX, Table Source: Kalkine Media Pty Ltd

Gainers and Losers:

On 6th May 2021, TruScreen Group Limited (NZX: TRU) released the stakeholder newsletter. As per the letter, in Q1 CY 2021, there was an appointment of Juliet Hull as the interim CEO and the China market has been showing robust recovery.

SkyCity Entertainment Group Limited (NZX: SKC) released a presentation in which it mentioned that it expects group normalised EBITDA to be more than FY 2020 but well below the pre-COVID-19 and FY 2019 levels and the outlook is unpredictable.

However, Cooks Global Foods Limited (NZX: CGF) rose by 13.33%.

Data Source: NZX, Table Source: Kalkine Media Pty Ltd

Movements on Wall Street:

On 5th May 2021, NASDAQ Composite declined by 0.37% to 13,582.43. However, Dow Jones Industrial Average increased 0.29% to 34,230.34.

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