The NZX 50 Fell 104.1 points on Thursday, Primarily Led by Selling Pressure in Healthcare Sector

2 min read | May 27, 2021 08:11 PM NZST | By Team Kalkine Media

On 27th May 2021, the broader market lost ground mainly due to heavy selling seen in Healthcare stocks, followed by Energy stocks. However, some buying in Consumer Staples stocks supported the benchmark Indices. NZX 50 declined by 0.84% to 12,243.34 and NZX 20 fell by 0.97% to 7,784.33. NZX All Health Care sector witnessed a significant decline of 4.07%.

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

MidCap and SmallCap Outperformed Broader Market:

NZX 50 Index ended at 12,243.34, reflecting ~10.81% growth in the time frame of 1 year. Also, MidCap Index and SmallCap Index managed to claim the levels of 6,267.32 and 21,746.93 points, respectively.

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

Data Source: EODHD/Others

Gainers and Losers:

Gentrack Group Limited (NZX: GTK) released the results for the half-year ended 31st March 2021. Its revenues stood at $51.0 Mn, reflecting a rise of 0.7% on H1 FY 2020. Its EBITDA stood at $7.0 Mn, implying an increase of 63.2% on the YoY basis.

Fisher & Paykel Healthcare Corporation Limited (NZX: FPH) made an announcement about the results for the year ended 31st March 2021. Considering the ongoing uncertainties with respect to the vaccinations, lockdowns, COVID-19 variants, localised waves as well as return to the stable hospitalisation rates, FPH has not provided guidance for the 2022 financial year.

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

Movements on Wall Street:

On 26th May 2021, NASDAQ Composite rose by 0.59% to 13,738.00. Notably, Dow Jones Industrial Average increased by 0.03% to 34,323.05.

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


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