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On 13th May 2021, the broader market continued its downward momentum for the 7th consecutive session. Today’s downfall was mainly due to the selling pressure witnessed in consumer staples sector, among others. Meanwhile, industrials sector and utilities sector also ended the session in red. NZX 50 declined by 1.10% to 12,428.12 and NZX 20 fell by 1.17% to 7,964.15. However, NZX 10 declined by 1.07%.
Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media
MidCap and SmallCap Outperformed Broader Market:
NZX 50 Index closed at 12,428.12, reflecting ~15.20% growth in the time span of 1 year. Also, MidCap Index and SmallCap Index claimed the levels of 6,159.72 and 21,656.21 points, respectively. Therefore, it could be mentioned that the SmallCap Index and MidCap Index have been more resilient as compared to 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:
Harmoney Corp Limited (NZX: HMY) stated that total group originations stood at NZ$37.8 million in April 2021, reflecting a rise from NZ$4.2 million in April 2020 (or +800%). The company has exceeded NZ$2 billion in total loans originated and has also delivered the highest April originations in the history.
Marlin Global Limited (NZX: MLN) stated that its NAV, as on 11th May 2021, stood at $1.2217 as compared to $1.2500 (as on 4th May 2021).
Barramundi Limited (NZX: BRM) stated that its undiluted NAV stood at $0.8150 (as on 12th May 2021) as compared to $0.8296 (as on 5th May 2021).
Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media
Movements on Wall Street:
On 12th May 2021, NASDAQ Composite declined by 2.67% to 13,031.68. However, Dow Jones Industrial Average fell by 1.99% to 33,587.66.