NZX 50 climbs 1.07%; Bitcoin, Ethereum witness price gains

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NZX 50 climbs 1.07%; Bitcoin, Ethereum witness price gains

 NZX 50 climbs 1.07%; Bitcoin, Ethereum witness price gains
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

Highlights

  • The NZ share market closed in the green after Tuesday’s trading
  • Restaurant Brands New Zealand and Burger Fuel Group were among the top NZX gainers
  • Major cryptocurrencies are trading in the green today

The New Zealand share market witnessed gains on Tuesday, taking cues from Wall Street. The benchmark index S&P/NZX 50 ended 1.07% or 113.390 points higher at 10,701.590, majorly led by the S&P/NZX All Consumer Staples, the S&P/NZX All Information Technology and the S&P/NZX All Industrials, which rose 1.93%, 1.72%, and 1.35%, respectively.

NZX movers and shakers

Source: © Skypixel | Megapixl.com

DGL Group Limited (NZX:DGC) was the top gainer on the S&P/NZX 50 index, climbing 6.56%. It was followed by Restaurant Brands New Zealand Limited (NZX:RBD), whose shares gained 6.50%, and Burger Fuel Group Limited (NZX:BFG), with shares up 6.50% and 6.25%, respectively.

On the other hand, in the red zone of the NZX 50, Me Today Limited (NZX:MEE) was the top laggard, down 7.69% over 6%. It was followed by General Capital Limited (NZX:GEN), which lost 5.56%. Other stocks in this zone were EROAD Limited (NZX:ERD) and My Food Bag Group Limited (NZX:MFB).

On 21 June, at the closing bell, over NZ$119 million was the daily value traded.

Global market

Wall Street on Monday showed mixed trends while the S&P 500 gained 0.22%, and the NASDAQ ended 1.43% higher, the Dow Jones lost 0.13%, as fears grew over an aggressive rate hike by the Central Bank to tame inflation, causing increased chances of recession.

Meanwhile, Asia-Pacific markets were mostly buoyant on 21 June, with Japan's Nikkei 225 climbing 1.84% and Hong Kong's Hang Seng rising 1.44% at the time of writing. However, Chinese stocks struggled for gains as the Shanghai Composite lost 0.29%.

Oil and gold prices

On Tuesday, oil prices are witnessing gains as the focus returned to the tight supply of crude and fuel products compared to worries over the economic downturn hitting the demand.

Currently, Brent Oil Futures are up 1.02% at US$115.26 per barrel.

Meanwhile, investors are keeping a close watch on major central banks on rises in interest rates so as to get a clearer outlook for bullion. Gold Futures are down 0.15% to US$ 1,837.80 an ounce at the time of writing.

Top cryptos zoom

The cryptocurrency market showed tentative signs of recovery on Tuesday as the global crypto market cap rose 4.97% over the previous day and stood at US$926.77 billion at the time of writing.

The world’s largest cryptocurrency, Bitcoin, along with other major cryptos like Ethereum, Cardano, Solana, Polkadot, Avalanche, etc., are trading in the green as of now.

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