NZX 50 Fell 114.79 points on Wednesday, Led by Selling Pressure in the Majority of the Index Stocks

On 16th June 2021, broader NZ markets ended the session in negative terrain after huge selling pressure was witnessed in Communications Services, followed by Consumer Staples, and Utilities Index, among others. NZX 50 declined by 0.90% to 12,581.60 and NZX 20 fell by 1.09% to 7,979.51. Also, NZX 10 witnessed a fall of 1.15%.

Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media

MidCap and SmallCap Outperformed Broader Market:

NZX 50 Index closed at 12,581.60, which implies ~14.86% growth in the time span of 1 year. Also, MidCap Index and SmallCap Index claimed 6,336.54 and 22,272.68 points, respectively.

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

Source: REFINITIV

Gainers and Losers:

Gentrack Group Limited (NZX: GTK) released an investor strategy presentation on 16th June 2021. As per the presentation, some tailwinds are driving momentum for the business. Notably, recent wins in energy and water projects provided support to the company to focus on pipeline development.

On 16th June 2021, the stock of Burger Fuel Group Limited (NZX: BFG) increased by 5.26% to $0.400 per share.

Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media

Movements on Wall Street:

On 15th June 2021, NASDAQ Composite Index fell by 0.71% to 14,072.86. Notably, Dow Jones Industrials Average fell by 0.27% to 34,299.33.

Note: The reference data in this article has been partly sourced from REFINITIV

Comment


Disclaimer

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK