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NZX 50 ended the trading session in green as the broader market was supported by the buying witnessed in energy stocks on 29th April 2021. As shown in the following table, NZX 20 increased by 0.66% to 8,157.31 and NZX 10 rose by 0.87% to 12,635.14. The US Federal Reserve meeting has been concluded and the central bank has maintained its friendly stance.
Data Source: NZX, Table Source: Kalkine Media Pty Ltd
MidCap and SmallCap Continued their Growth Trajectory:
S&P/NZX 50 Index stood at 12,715.20 that indicates ~19.21% increase in 1 year while MidCap Index and SmallCap Index stood at 6,253.52 and 21,893.57 points, respectively, surpassing the benchmark Indices and indicating a growth of ~27.83% and ~70.51%, respectively. Therefore, it could be concluded that MidCap and SmallCap have continued their growth trajectory.
S&P/NZX 50 Index vs SmallCap Index vs MidCap Index – One Year Return
Source: EODHD/Others (Thomson Reuters)
Gainer:
On 13th April 2021, Comvita Limited (NZX: CVT) announced that, following the completion of Q3, it anticipates full year operating EBITDA to be between $22.5 Mn-$25.5 Mn rather than previously announced range of $20 Mn - $23 Mn. The increase in range was because of ongoing robust growth in focus growth markets of China as well as North America (offsetting ANZ and Hong Kong challenges), robust performance in the digital channel which now accounts for more than 30% of the group sales, efficiencies in production as well as strong control on costs.
Data Source: NZX, Table Source: Kalkine Media Pty Ltd
Movements on Wall Street:
On 28th April 2021, NASDAQ Composite declined by 0.28% to 14,051.03. Notably, Dow Jones Industrial Average witnessed a fall of 0.48% to 33,820.38.
Also Read: Will Buying in Consumer Discretionary Stocks Sustain?