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On 20th May 2021, broader market ended the session in green led by buying in Utilities and Consumer Staples stoks, among others, while Energy stocks capped overall gains of the broader market, as it fell by 3.19%. NZX 50 rose by 1.20% to 12,437.17 and NZX 20 increased by 1.48% to 7,966.01. In addition, NZX 10 rose by 1.59% to 12,237.43.
Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media
MidCap and SmallCap Outperformed Broader Market:
NZX 50 Index ended at 12,437.17, reflecting ~15.29% growth in the time frame of one year. Also, MidCap Index and SmallCap Index claimed the levels of 6,192.98 and 21,498.89 points, respectively. Notably, NZX MidCap Index increased by ~22.30% and NZX SmallCap Index rose by ~60.80% in one year.
S&P/NZX 50 Index vs SmallCap Index vs MidCap Index – One Year Return
Source: EODHD/Others (Thomson Reuters)
Gainers and Losers:
Plexure Group Limited (NZX: PLX) released its annual results for FY 2021 and its revenue from the existing customers increased by 15% to $29.15 Mn and recurring revenue (license as well as support fees) increased 14% to $18.3 Mn. It was mentioned that the rate of growth was slower than expected because of the impact of coronavirus pandemic, although the market conditions witnessed an improvement in the second half of the year.
In the release dated 19th May 2021, Millennium & Copthorne Hotels NZ Limited (NZX: MCK) stated that independent director, Richard Bobb, has decided to retire. Therefore, he would not be standing for re-election at the upcoming annual meeting.
Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media
Movements on Wall Street:
On 19th May 2021, NASDAQ Composite declined by 0.03% to 13,299.74. However, Dow Jones Industrial Average fell by 0.48% to 33,896.04.