NZX 50 Trades Lower in Morning Deals

2026-06-16 22:58 By Chusnul Chotimah 1 min. read

The NZX 50 dropped 55 points, or 0.4%, to 13,372 in Wednesday morning deals, erasing gains from the previous session, mainly weighed down by the materials, financials, communication services, and healthcare sectors.

The broader index declined from its highest level since March 6, which it touched a day earlier, tracking a fall in Wall Street's Nasdaq and S&P 500 indexes amid a pullback in AI-related stocks.

Fresh data pressured sentiment, as New Zealand's consumer confidence fell to its lowest level since 2023 in Q2, weighed by rising fuel and other living costs, while the Q1 current account gap widened from the same period a year earlier.

Traders also anticipated this week's release of New Zealand's Q1 GDP data and the Fed's monetary policy decision.

Among early losers were Fisher & Paykel (-0.9%), Briscoe Group (-0.9%), Ebos Group (-0.7%), Henderson Far East Income (-0.6%), Infratil (-0.5%), and Contact Energy (-0.4%).



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NZX 50 Trades Lower in Morning Deals
The NZX 50 dropped 55 points, or 0.4%, to 13,372 in Wednesday morning deals, erasing gains from the previous session, mainly weighed down by the materials, financials, communication services, and healthcare sectors. The broader index declined from its highest level since March 6, which it touched a day earlier, tracking a fall in Wall Street's Nasdaq and S&P 500 indexes amid a pullback in AI-related stocks. Fresh data pressured sentiment, as New Zealand's consumer confidence fell to its lowest level since 2023 in Q2, weighed by rising fuel and other living costs, while the Q1 current account gap widened from the same period a year earlier. Traders also anticipated this week's release of New Zealand's Q1 GDP data and the Fed's monetary policy decision. Among early losers were Fisher & Paykel (-0.9%), Briscoe Group (-0.9%), Ebos Group (-0.7%), Henderson Far East Income (-0.6%), Infratil (-0.5%), and Contact Energy (-0.4%).
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The NZX 50 rose 66 points, or 0.5%, to close at 13,426 on Tuesday, halting losses from the previous session, mainly buoyed by gains in the utilities, energy, technology, and consumer discretionary sectors. The broader index hit its highest level since March 6, tracking a rally on Wall Street overnight as concerns over inflation eased due to lower oil prices following a peace deal between the US and Iran. However, fresh data limited the gains, as New Zealand's food inflation accelerated to 3.2% in May. Traders also anticipated this week's release of New Zealand's Q1 GDP data and the Fed's monetary policy decision. Delegat Group jumped 14.3% after the company revised its full-year earnings forecast upward. Other top performers were Henderson Far East Income (3.7%), Skellerup Holdings (3.1%), Fletcher Building (1.3%), Fisher & Paykel Healthcare (1.2%), Infratil (0.7%), and ANZ Group (0.6%).
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The NZX 50 climbed 26 points, or 0.2%, to 13,385 in Tuesday morning trade, erasing losses from the previous session and tracking a rally on Wall Street overnight, buoyed by easing oil prices after the US and Iran reached a peace deal. Healthcare, consumer staples, utilities, and consumer discretionary stocks mainly supported the index. However, fresh data limited the gains, as New Zealand's food inflation accelerated to 3.2% in May. Traders also awaited the release of a slew of economic data from China later today, while anticipating this week's release of New Zealand's Q1 GDP data and the Fed's monetary policy decision. Delegat Group surged 10.7% after the company revised its full-year earnings forecast upward. Other early gainers were A2 Milk (2.2%), Contact Energy (1.1%), Feightways Group (0.8%), Fisher & Paykel Healthcare (0.7%), Chorus (0.7%), and Ebos Group (0.3%).
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