Source: Krish Capital Pty Ltd 

Index Update: On 30th September 2025, the broader NZ market closed in green amidst buying in the consumer discretionary sector. On the same day, S&P/NZX 50 Index witnessed a rise of 1.22% to end at 13,292.360 and S&P/NZX 20 Index rose by 1.19% to close at 7,640.310. Also, S&P/NZX 10 Index encountered an increase of 1.07%. Notably, strong buying was witnessed in the consumer discretionary sector and S&P/NZX All Consumer Discretionary rose by 3.19%.  

Macro Update: As per Stats NZ, as of 31 March 2025, out of NZ’s $422.6 Bn total investment abroad, 70.9% was in the United States of America, Australia, the United Kingdom, and Japan, and 6.9% was direct investment. Notably, of the $633.8 Bn total foreign investment in NZ, 58.4% was from Australia, the United States of America, the UK, and Singapore.  

Top Market Movers: Among top gainers, Restaurant Brands NZ Limited (NZX: RBD) rose by 65.20% to end at $4.89 per share. On the other hand, NZ King Salmon Investments Limited (NZX: NZK) declined by 9.09%.  

Commodity Update: The U.S. dollar weakened on Tuesday as investors grew cautious ahead of a possible government shutdown that could delay key economic data, including the jobs report. Gold rose 0.51% to $3,874.90, silver edged up 0.17% to $47.09, while copper slipped 0.72% to $10,367.70. Brent crude fell 0.50% to $67.65 on OPEC+ production hike concerns, while easing Gaza tensions reduced geopolitical risk premiums. 

 

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 consumer discretionary sector somewhat supported the broader NZ market on 30th September. As of now, the global investors are focusing on the risks related to the US government shutdown. Furthermore, the uncertainties related to the tariffs and the geopolitical worries are some of the risks which can impact the broader equities. These global uncertainties might also impact the broader NZ equities.  

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