Image Source : Krish Capital Pty Ltd

Index Update: On 9th July 2025, the broader NZ market ended the trading session in red amidst sell-off in the consumer staples sector. On the same day, S&P/NZX 50 Index witnessed a fall of 0.70% to end at 12,768.610 and S&P/NZX 20 Index fell by 0.77% to 7,472.600. Also, S&P/NZX 10 Index encountered a fall of 0.86% to 12,420.090. Notably, S&P/NZX All Consumer Staples witnessed a significant fall of 3.10% to close the session at 3,397.580.    

Macro Update: As per Fortnightly Economic Update dated 4th July, the inflation remains contained, but there are near-term pressures which continue to add to the upside risk. While global activity is being buffeted by trade policies, the uncertainty has been eased. Also, the global activity is unwinding from the pre-tariff surge as well as growth is anticipated to continue to slow over H2.   

Top Market Movers: Among top gainers, SkyCity Entertainment Group Limited (NZX: SKC) witnessed a rise of 5.21% to $1.01 per share. On the other hand, Trade Window Holdings Limited (NZX: TWL) fell by 9.09% to $0.20 per share.  

Commodity Update: The dollar strengthened for a third straight session against the yen after U.S. President Trump announced 25% tariffs on Japan and hinted at more trade actions. Gold declined 0.52% to $3,299.70, while silver rose slightly by 0.03% to $36.76. Copper slipped 1.01% to $9,703.55. Brent crude fell 0.30% to $69.91 amid rising U.S. crude inventories and investor caution ahead of further trade announcements.  

A graph of stock market AI-generated content may be incorrect., Picture

Source: Trading View, Analysis: Kalkine Group   

Following a sustained upward rally that began in October 2023, the S&P/NZX 50 index appears to be transitioning into a consolidation phase. This is evidenced by the formation of a lower high and a higher low on the chart - typically a technical signal that the market may be entering a trading range. Currently, though the index is on a rally and approaching a significant resistance established by its previous high at 12,881 points; however, unless there is a clear breakout above the mentioned resistance level, this sideways movement is expected to persist in the near term. As a result, investors may need to wait for a clear move before gaining greater clarity on the market’s next trend. 

Our Stance: It could be said that the sell-off in the consumer staples sector somewhat impacted the broader NZ market on 9th July 2025. While there is significant uncertainty due to the uncertain trade environment, the investors are required to be cautious due to the fluctuating commodity markets. Also, the markets might also be impacted by the earnings season.  

You Are a Few Steps Away From Gaining Smart Market Insights

Sign up/Login Now and Gain Access to Exciting Opportunities from Investor and Resource Space!