NZX 50 Fell More Than Half a Percent on Monday, Extending Losses for the 4th Consecutive Session

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: Refinitiv (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.

The website is a service of Kalkine Media New Zealand Limited (Kalkine Media), Company Number: 8107196. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.
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