Selling in Utility Stocks Mainly Impacted NZ Market

2 min read | September 29, 2021 08:02 PM NZDT | By Team Kalkine Media

On 29th September 2021, NZ market ended the session in red. This was primarily due to selling pressure witnessed on the utility as well as materials stocks. However, some buying was encountred in the financial stocks. NZX 50 Index declined by 0.53% to 13,119.79 and NZX 20 Index fell by 0.56% to 8,241.28.

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

Performance of Indices:

NZX 50 Index closed at 13,119.79, implying ~11.73% rise in 1 year. MidCap Index and SmallCap Index ended at 6,581.59 and 22,633.04 points, respectively.

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

Source: EODHD/Others

Gainers and Losers:

Rakon Limited (NZX: RAK) came forward and announced that it upgraded the earnings guidance for the year ending 31st March 2022. Also, the company notified about the appointment of Steven Tucker to the board to the post of Independent Non-executive Director. RAK is anticipating to post underlying EBITDA between $39 Mn-$44 Mn in FY 2022.

Geo Limited (NZX: GEO) rose by 5.33% to NZ$0.158 per share

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

Movement on Wall Street:

On 28th September 2021, NASDAQ Composite declined by 2.83% to 14,546.68. Also, Dow Jones Industrials Average fell by 1.63% to 34,299.99.

Note: The reference data in this article has been partly sourced from EODHD/Others


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