Image Source : Krish Capital Pty Ltd

Index Update: On 14th July 2025, the broader NZ market ended the trading session marginally lower amidst selling in the technology sector. On the same day, S&P/NZX 50 Index witnessed a fall of 0.06% to end at 12,678.690 and S&P/NZX 20 Index declined by 0.12% to 7,406.980. Also, S&P/NZX 10 Index witnessed a fall of 0.02% to close at 12,287.870. Notably, S&P/NZX All Information Technology declined by 1.45% to end at 3,036.840.   

Macro Update: Stats NZ released data about electronic card transactions (June 2025). The spending in the retail industries rose by 0.5% (or $32 Mn) and spending in the core retail industries increased by 0.7% as compared to May 2025. By the retail spending category, consumables were up by $29 Mn (or 1.0%), durables increased $10 Mn (or 0.6%), and apparel was up by $10 Mn (3.1%).   

Top Market Movers: Among top gainers, Rua Bioscience Limited (NZX: RUA) witnessed a rise of 10.00% to end at $0.033 per share. On the other hand, Comvita Limited (NZX: CVT) declined by 5.21% to $0.455 per share.   

Commodity Update: The euro dropped to a three-week low Monday, and the Mexican peso weakened after President Trump threatened 30% tariffs on EU and Mexican imports starting August 1. Gold rose 0.27% to $3,373.15, silver gained 0.45% to $39.12, and copper edged up 0.13% to $9,681.35. Brent crude climbed 0.20% to $70.48 amid tariff tensions and potential new U.S. sanctions on Russia, extending its weekly gains.  

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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 selling in the technology sector somewhat impacted the broader NZ market on 14 July. Donald Trump’s tariff threats continue to impact the broader global and NZ markets. Moving forward, the investors are required to be prepared for the broad-based volatility in the markets due to the economic reports which are expected to be released. On July 15, the data about consumer price index is expected to be released.  

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