The NZX 50 Added 39.2 Points on Friday, Supported by Broad Based Buying

2 min read | June 25, 2021 07:55 PM NZST | By Team Kalkine Media

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The NZX 50 Added 39.2 Points on Friday, Supported by Broad Based Buying — Image source: Copyright © 2021 Kalkine Media Pty Ltd.

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On 25^th June 2021, the broader NZ markets were supported by the broad based buying in Energy, Consumer Staples, and Communications Services stocks. Notably, NZX 50 rose by 0.31% to 12,626.09 and NZX 20 increased by 0.33% to 8,004.87. Also, NZX All Energy rose by 2.09%.

MidCap and SmallCap Outperformed Broader Market:

NZX 50 Index ended at 12,626.09, which reflects ~13.50% increase over the time span of one year. Also, MidCap Index and SmallCap Index claimed 6,326.45 and 22,171.21 points, respectively.

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

Source: EODHD/Others

Gainers and Losers:

Comvita Limited (NZX: CVT) stated that it was the leading brand in the category in the recently wrapped up 618 shopping festival in China. It has outperformed all the other Mānuka honey brands on the 2 e-commerce platforms, Tmall and JD.com. CVT’s total sales through the festival rose 31.0% on the last year which implies the robust growth in the consumer awareness as well as demand for the Comvita brand, mainly considering that the overall honey category sales were relatively flat YoY.

Notably, DGL Group Limited (NZX: DGC) rose by 3.70%.

Movement on Wall Street:

On 24^th June 2021, NASDAQ Composite increased by 0.69% to 14,369.71. Notably, Dow Jones Industrials Average increased by 0.95% to 34,196.82.

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

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