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On 4th May 2021, it can be said that the broad based buying continued as NZ markets managed to close the session in green. Notably, the strong buying was witnessed in consumer staples sector which provided a strong support to NZX 50. On 4th May 2021, NZX 50 rose by 1.12% to 12,912.19 and NZX 20 increased by 1.30% to 8,306.40. On the same day, All Consumer Staples sector rose by 2.43%.
Data Source: NZX, Table Source: Kalkine Media Pty Ltd
MidCap and SmallCap Outperformed Broader Market:
S&P/NZX 50 Index managed to close at 12,912.19, reflecting an increase of ~23.26% in the time span of 1 year. Also, MidCap Index and SmallCap Index claimed 6,349.56 and 21,964.19 points, respectively. The below chart depicts the resilience witnessed in the small cap and mid cap stocks.
S&P/NZX 50 Index vs SmallCap Index vs MidCap Index – One Year Return
Source: EODHD/Others (Thomson Reuters)
Gainers and Losers:
On 4th May 2021, Enprise Group Limited (NZX: ENS) witnessed a significant rise of 24.41% to NZ$1.580 per share. On the other hand, NZME Limited (NZX: NZM) declined by 3.80% to NZ$0.760 per share.
Data Source: NZX, Table Source: Kalkine Media Pty Ltd
Movements on Wall Street:
On 3rd May 2021, NASDAQ Composite witnessed a decline of 0.48% to 13,895.12. Notably, Dow Jones Industrial Average increased by 0.70% to 34,113.23.
Also Read: Broad Based Buying Across Indices Pushed NZX 50 Higher