Broader NZ Market Ends in Green

                                                              Source: Krish Capital Pty Ltd

Index Update: On 29th September 2025, the NZ market closed in green amidst broad-based buying momentum. On the same day, S&P/NZX 50 Index witnessed a rise of 0.16% to end at 13,132.560 and S&P/NZX 20 Index increased by 0.11% to 7,550.730. Also, S&P/NZX 10 Index encountered an increase of 0.15% to close at 12,586.370. Notably, significant buying was witnessed in the financials sector and S&P/NZX All Financials rose by 1.33%.  

Macro Update: As per the FEU dated 25 September 2025, the household consumption picked up pace over the H1 of the year and further increases in card spending hint at the continued household spending. Also, the robust export income flows have continued in the September quarter and trade data highlighted a bounce in export volumes after declining in the previous quarter. 

Top Market Movers: Among top gainers, Manuka Resources Limited (NZX: MKR) witnessed a rise of 20.97% to end at $0.075 per share. On the other hand, WasteCo Group Limited (NZX: WCO) encountered a decline of 11.11% to end at $0.016 per share. 

Commodity Update: The dollar eased on Monday ahead of upcoming U.S. economic releases that may clarify the Federal Reserve’s rate direction, while concerns about a potential government shutdown intensified. Gold gained 0.38% to $3,820.00, silver rose 0.23% to $46.76, and copper advanced 0.70% to $10,283.50. Brent crude fell 0.90% to $69.50 after Iraq’s Kurdistan restarted exports via Turkey and OPEC+ prepared for a fresh output increase in November. 

Source: Trading View, Analysis: Kalkine Group 

After beginning a short-term rally in April 2025, the S&P/NZX 50 index has recently revisited its 2024 peak at 13,270. Additionally, the index continues to register higher highs and higher lows, signaling that the uptrend is still intact. A decisive break above this resistance would strengthen bullish momentum and potentially pave the way for a test of the all-time high at 13,636. On the downside, immediate support lies at 12,750, with a breach of this level serving as an early warning signal. Meanwhile, the 14-day Relative Strength Index (RSI) is heading north from its midpoint, reflecting a positive market sentiment. 

Our Stance: It could be said that buying in the financials sector somewhat supported the broader NZ market on September 29. Amidst the investors focusing on prospects for the US government shutdown, the broader global equities might get impacted from the company-specific news. Also, the market players are required to focus on the news which can affect the US Fed’s decision about the rate cuts. Amidst global macro uncertainties around trade policies and challenges, the investors are required to be cautious.