Image Source : Krish Capital Pty Ltd

Index Update: On 30th April 2025, the broader NZ market ended the trading session in red amidst decline in the industrials sector. On the same day, S&P/NZX 50 Index witnessed a fall of 1.02% to end at 11,903.310 and S&P/NZX 20 Index increased by 1.24% to 7,031.390. Also, S&P/NZX 10 Index encountered a decline of 1.12% to 11,757.200. S&P/NZX All Industrials witnessed a fall of 1.88%. However, S&P/NZX All Energy witnessed a rise of 2.15%.  

Macro Update: As per the recent FEU, post a strong finish to 2024, the spending growth slowed during the first 3 months of 2025. As per Stats NZ’s electronic card transactions data, retail spending witnessed a decline of 0.8% in March. Further, for the three months ending March, sales fell by 2.1% relative to the March quarter of the last year. Also, the BNZ-BusinessNZ surveys exhibited domestic softness.  

Top Market Movers: Among top gainers, Rua Bioscience Limited (NZX: RUA) witnessed a rise of 8.70% to end at $0.025 per share. On the other hand, WasteCo Group Limited (NZX: WCO) fell by 8.70% to $0.021 per share. 

Commodity Update: The U.S. dollar held steady Wednesday but faced its worst monthly performance since November 2022 amid volatile trade policies under Trump, lifting the euro, yen, and Swiss franc. The Fed is expected to delay rate cuts until labour market weakness emerges and then ease aggressively. Gold fell 0.50% to $3,318.60, silver dropped 1.17%, copper dipped 0.25%, and Brent crude slipped 0.10% on global growth and trade concerns. 

Source: Trading View, Analysis: Kalkine Group   

Following a break below the upward trendline that had held since November 2024 and showing signs of weakness, the S&P/NZX 50 index has continued to fall beneath a key support level — the neckline of a Head & Shoulders formation — suggesting the potential for further downside. This bearish momentum may push the index toward a major support zone around 11,500 points. At present, the index is showing an early sign of stabilization when forming lower highs and higher lows with a possible bullish divergence emerging on the 14-day Relative Strength Index (RSI) in its oversold territory. However, in order to signal a possible recovery, the index should manage to surpass its previous peak at 12,400 points.   

Our Stance: It could be said that the decline in industrial sector weighed over the NZ market.  

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!