Selling in Real Estate Stocks Impacted NZ Market

On 27th September 2021, the broader NZ market ended in red. This was mainly because significant selling pressure was witnessed in the real estate stocks. However, some buying was also encountered in the consumer staples stocks. Notably, NZX 50 Index fell by 0.24% to 13,227.70 and NZX 20 Index declined by 0.20% to 8,328.00.

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

Performance of Indices:

NZX 50 Index closed at 13,227.70, implying ~12.08% rise in 1 year. Notably, MidCap Index and SmallCap Index closed at 6,619.15 and 22,614.87 points, respectively.

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

Source: REFINITIV

Gainers and Losers:

Synlait Milk Limited (NZX: SML) released financial results for the 12 months ended 31st July 2021 and the company has also announced the appointment of Grant Watson to the position of next CEO. In FY 2021, revenue rose by 5% to $1,367.3 Mn.

Marlin Global Limited (NZX: MLN) rose by 5.52% to NZ$1.530 per share.

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

Movement on Wall Street:

On 24th September 2021, NASDAQ Composite declined 0.03% to 15,047.70. Notably, Dow Jones Industrials Average increased by 0.10% to 34,798.00.

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

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