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On 10th May 2021, NZX 50 closed in red as significant selling was witnessed in consumer staples stocks, down by 8.93%, followed by Primary Sector Index, down by 2.63% while Energy stocks provided some support and gained, up by 2.62%. NZX 50 fell by 0.57% to 12,659.01 and NZX 20 declined by 0.72% to 8,112.81. However, NZX 10 declined by 0.99%.
Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media
MidCap and SmallCap Outperformed Broader Market:
NZX 50 Index managed to close at 12,659.01, reflecting ~17.65% growth in 1 year. Also, MidCap Index and SmallCap Index claimed the levels of 6,303.91 and 21,930.56 points, respectively. Therefore, it could be translated that the Smallcap Index and Midcap Index outperformed 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:
The a2 Milk Company (NZX: ATM) provided the trading update and the revised outlook for FY 2021. It was mentioned that the trading dynamics in the China infant nutrition market were and continue to be challenging for the company as well as many international competitors. The company is now anticipating the revenue for FY 2021 between $1.20 bn- $1.25 bn.
However, the stock of Me Today Limited (NZX: MEE) rose by 3.75%.
Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media
Movements on Wall Street:
On 7th May 2021, NASDAQ Composite increased by 0.88% to 13,752.24. Meanwhile, Dow Jones Industrial Average rose 0.66% to 34,777.76.