NZ Markets Ended on a Mixed Note: OCR Remained at 0.25%

2 min read | May 26, 2021 07:39 PM NZST | By Team Kalkine Media

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NZ Markets Ended on a Mixed Note: OCR Remained at 0.25% — Image source: Copyright © 2021 Kalkine Media Pty Ltd.

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The Monetary Policy Committee stated that it would be maintaining the current stimulatory level of monetary settings so that consumer price inflation as well as employment objectives could be met. The Committee has kept the OCR (or Official Cash Rate) at 0.25% and it was mentioned that Large Scale Asset Purchase and Funding for Lending programmes would remain unchanged. On 26^th May 2021, NZX 50 rose by 0.05% to 12,347.44 and NZX 20 declined by 0.07% to 7,860.92. Broader market was somewhat benefitted from buying witnessed in materials sector.

MidCap and SmallCap Outperformed Broader Market:

NZX 50 Index ended at 12,347.44, reflecting ~13.13% growth in the time span of 1 year. Also, MidCap Index and SmallCap Index claimed the levels of 6,274.63 and 21,786.92 points, respectively.

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

Data Source: EODHD/Others

Gainers and Losers:

As per the release dated 25^th May 2021, Cavalier Corporation Limited (NZX: CAV) announced that it has appointed PwC as the external auditor.

Wellington Drive Technologies (NZX: WDT) held its 2021 Annual Shareholders’ Meeting at 3.00pm

on 26^th May 2021. Further, it released its FY21 financial guidance, where the company is expecting sales between of US$41 Mn-US$46 Mn and EBITDA between NZ$2.5 Mn-NZ$3 Mn.

Movements on Wall Street:

On 25^th May 2021, NASDAQ Composite fell by 0.03% to 13,657.17. Notably, Dow Jones Industrial Average declined by 0.24% to 34,312.46.

Note: The reference data in this article has been partly sourced from EODHD/Others

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