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On 17th May 2021, NZX 50 ended the session in green, up 0.34% to 12,410.47. The broader market witnessed a rise led by buying moememtum in IT stocks, followed by Health Care stocks, among others. However, significant fall in the Consumer Staples stocks pulled the broader market down to some extent. Notably, NZX 20 increased 0.29% to 7,944.41 and NZX 10 rose by 0.20% to 12,210.04.
Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media
MidCap and SmallCap Outperformed Broader Market:
NZX 50 Index closed at 12,410.47, reflecting ~15.36% growth in the span of 1 year. Also, MidCap Index and SmallCap Index claimed the levels of 6,193.08 and 21,617.02 points, respectively. NZX MidCap Index witnessed a rise of ~24.39% and NZX SmallCap Index rose by 63.37%.
S&P/NZX 50 Index vs SmallCap Index vs MidCap Index – One Year Return
Source: EODHD/Others (Thomson Reuters)
Gainers and Losers:
Tower Limited (NZX: TWR) revised the guidance on underlying profit for FY21. The company is expecting underlying net profit after tax of $25 Mn-$27 Mn for the year ended 30th September 2021. Earlier, it announced guidance of over $29.8 million. In addition to higher frequency of the house claims, the revision implies emerging industry trends with regards to inflationary pressures on the building costs.
In the release dated 12th May 2021, it was mentioned that the commercial agreement between Rua Bioscience Limited (NZX: RUA) and Medbloom Limited with regards to the supply of raw biomass has been concluded. This has been done by the mutual understanding.
Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media
Movements on Wall Street:
On 14th May 2021, NASDAQ Composite rose by 2.32% to 13,429.98. Notably, Dow Jones Industrial Average increased by 1.06% to 34,382.13.