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On 28th April 2021, NZX 50 rose by 0.20% to 12,646.14 as the broader market was supported by the buying witnessed in consumer discretionary stocks. Futher, NZX 20 increased by 0.23% to 8,103.97 and NZX 10 encountered a rise of 0.18% to 12,526.39. As can be seen from the table below, NZX All Industrials sector increased by 0.81% to 2,233.07.
Data Source: NZX, Table Source: Kalkine Media Pty Ltd
MidCap and SmallCap Outperformed Broader Market:
The broader market, S&P/NZX 50 Index, stood at 12,646.14. This reflects around 17.53% increase in the span of 1 year. However, MidCap Index and SmallCap Index managed to claim at 6,249.23 and 21,986.99 points, respectively, outperforming the broader market (NZX 50 Index) and reflecting growth of around 27.66% and 72.21%, respectively. Resultantly, it could concluded that MidCap and SmallCap are quite resilient.
S&P/NZX 50 Index vs SmallCap Index vs MidCap Index – One Year Return
Source: EODHD/Others (Thomson Reuters)
Gainers:
AFT Pharmaceuticals Limited (NZX: AFT) rose by 12.50% after the company announced that it has inked an exclusive License and Distribution Agreement with Hikma Pharmaceuticals USA with regards to the commercialisation of Maxigesic IV in the US.
Wellington Drive Technologies (NZX: WDT) announced unaudited trading results for the 3 months ended 31st March 2021 and updated guidance for Q2 2021 and for the full year. Q1FY21 EBIT reported at NZ$0.5 million that was in line with the previous guidance. Q2FY21 revenue has been forecasted to be ~US$12-US$14 million as compared to US$2.9 million in Q2FY020 which was the quarter that was impacted by the pandemic.
Data Source: NZX, Table Source: Kalkine Media Pty Ltd
Movements on Wall Street:
On 27th April 2021, NASDAQ Composite declined by 0.34% to 14,090.22. However, Dow Jones Industrial Average rose marginally by 0.01% to 33,984.93.
Also Read: Are NZ Market Players Eyeing Crucial US Fed Meet?