Selling Pressure in Consumer Staples Stocks Weighed Over Broader Market

2 min read | July 26, 2021 08:25 PM NZST | By Team Kalkine Media

On 26th July 2021, NZ market ended the session in red as the broader market came under selling pressrue, primarily led by Consumer Stables stockes, followed by Consumer Discretionary and Primary Sector stocks. NZX 50 Index declined by -0.50% to 12,673.23 and NZX 20 Index fell 0.61% to 8,032.57. Notably, NZX All Consumer Staples declined by 4.21%. 

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

Performance of Indices:

NZX 50 Index ended at 12,673.23, which implies ~9.39% increase over the previous 1 year. Also, MidCap Index and SmallCap Index claimed 6,360.10 and 22,546.30 points, respectively.

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

Source: EODHD/Others

Gainers and Losers:

Wellington Drive Technologies Limited (NZX: WDT), in its release dated 26th July 2021, noted recent robust rise in the share price, up by ~20%. The company has stated that it remained in compliance with the continuous disclosure obligations. It has also reiterated the upgraded FY 2021 guidance from 28th June 2021. WDT is expecting US$ revenue between US$45 Mn-US$50 Mn, reflecting a rise from the earlier range of US$41 Mn-US$46 Mn, and subject to the component supply chain risks.

Radius Residential Care Limited (NZX: RAD) declined by 7.32% to NZ$0.760 per share.

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

Movement on Wall Street:

On 23rd July 2021, NASDAQ Composite rose 1.04% to 14,836.99. Notably, Dow Jones Industrials Average increased by 0.68% to 35,061.55.

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


Disclaimer

The content on this website, including, but not limited to, any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (“Content”) is a service provided by Kalkine Media New Zealand Limited (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content 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 stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide financial advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests users seek financial advice from a financial advice provider, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all liability to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without any express or implied warranties of any kind. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music 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/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit a source wherever it is indicated or is found to be necessary or desirable.

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.