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On 7th May 2021, New Zealand shares continued to fall for the 3rd consective day led by the Information Technology sector that weighed over the broader market as investors moved bearish. Notably, NZX 50 declined by 0.17% to 12,729.92 and NZX 20 fell by 0.14% to 8,172.04. However, NZX All Information Technology sector declined 2.74%.
Data Source: NZX, Table Source: Kalkine Media Pty Ltd
MidCap and SmallCap Outperformed Broader Market:
NZX 50 Index managed to close at 12,729.92, reflecting an increase of ~19.54% in the time period of 1 year. Also, MidCap Index and SmallCap Index claimed the levels of 6,299.69 and 21,990.28 points, respectively. Therefore, it can be said that the Smallcap Index and Midcap Index managed to outperform the broader market (NZX 50 Index).
S&P/NZX 50 Index vs SmallCap Index vs MidCap Index – One Year Return
Source: EODHD/Others (Thomson Reuters)
Gainers and Losers:
Chatham Rock Phosphate Limited (NZX: CRP) announced that it has managed to obtain an extension from the TSX Venture Exchange of the deadline to complete the announced non-brokered private placement until 7th June 2021. Notably, the private placement is for 6,000,000 units at the price of CA$0.11 per Unit (NZ$0.12) for the gross proceeds of up to CA$660,000 (NZ$720,000).
However, MHM Automation Limited (NZX: MHM) declined by 4.29%.
Data Source: NZX, Table Source: Kalkine Media Pty Ltd
Movements on Wall Street:
On 6th May 2021, NASDAQ Composite increased by 0.37% to 13,632.84. However, Dow Jones Industrial Average witnessed a rise of 0.93% to 34,548.53.