Broader NZ Market Witnesses Strong Buying Momentum

Index Update: On 14th January, the NZ market closed higher amidst broad-based buying momentum. On the same day, S&P/NZX 50 Index encountered a rise of 0.74% to end at 13,757.710 and S&P/NZX 20 Index rose by 0.85% to close at 7,820.310. Also, S&P/NZX 10 Index rose by 1.10% to end at 13,136.890. Notably, strong buying was encountered in the financials sector, and S&P/NZX All Financials rose by 1.80%.      

Macro Update: As per Stats NZ, there were 35,969 new homes consented in Aotearoa NZ during the year to November 2025. This reflects a rise of 7.0% as compared to the year ended November 2024. During the year ended November 2025, the multi-unit homes supported a rise in new homes consented. Out of multi-unit homes consented during the year to November 2025, 15,643 were townhouses, flats, and units (up by 9.6%), 2,647 apartments, and 1,291 were retirement village units.  

Market Movers: Among top gainers, Minerals Exploration Limited (NZX: MEX) witnessed a rise of 6.00% to end at $0.265 per share. WasteCo Group Limited (NZX: WCO) declined by 7.14%.  

Commodity Update: The U.S. dollar advanced to near a one-month high in early Asian trade after U.S. CPI data broadly met expectations, reinforcing views that the Federal Reserve will keep rates unchanged this month despite political pressure. Gold climbed 0.63% to USD 4,628.20, silver jumped 3.84% to USD 89.68, and copper rose 1.56% to USD 13,388.20. Brent crude edged down 0.14% to USD 65.38, easing after four sessions of gains as Venezuela resumed exports, while concerns over potential Iranian supply disruptions amid civil unrest continued to support prices.  

Source: Trading View, Analysis: Kalkine Group  

In the latest session, the S&P/NZX 50 Index posted a strong advance, erasing all losses from the preceding three-day pullback. The benchmark climbed 101.65 points, or 0.74%, to close at 13,757.71, while also moving decisively above its previous all-time high of 13,747.71 established in November 2025. This breakout suggests a potential renewal of upside momentum, with the next key resistance and near-term objective seen around the 14,000 level. Momentum indicators remain constructive, as the 14-day RSI has turned upward from neutral territory, reflecting strengthening market sentiment and supporting a positive short-term technical outlook.  

Our Stance: While the global market participants eye the earnings of big US banks, the investors and traders are also required to closely assess the inflation data. Apart from this, the market experts believe that macro-economic uncertainty and trade environment will continue to define the overall US markets. Coming to NZ, the half-year economic and fiscal update 2025 also highlighted that the households remain cautious amid budget pressures, softness in the labour market as well as subdued housing market.