Image Source : Krish Capital Pty Ltd

Index Update: On 9th June 2025, the NZ market ended the trading session lower amidst broad-based selling momentum. On the same day, S&P/NZX 50 Index witnessed a decline of 0.19% to end at 12,539.260 and S&P/NZX 20 Index encountered a fall of 0.25% to 7,392.230. Also, S&P/NZX 10 Index witnessed a fall of 0.47% to close at 12,322.900. Notably, S&P/NZX All Materials declined by 1.20% to 988.930. On the other hand, S&P/NZX All Consumer Discretionary increased by 2.82%.   

Macro Update: Stats NZ released business financial data for March 2025 quarter.   

Top Market Movers: Among top gainers, WasteCo Group Limited (NZX: WCO) rose by 11.11% to $0.020 per share. On the other hand, Vital Limited (NZX: VTL) declined by 5.95% to $0.395 per share.  

Commodity Update: The dollar faced a weekly decline on Friday amid weak U.S. economic data and stalled trade talks ahead of a key deadline. Markets awaited the U.S. nonfarm payrolls report for further cues. Gold rose 0.30% to $3,385.55, silver gained 1.06% to $36.17, and copper edged up 0.28% to $9,749.45. Brent crude slipped 0.12% to $65.22 but was set for its first weekly gain in three weeks.  

A graph of stock market AI-generated content may be incorrect., Picture

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. Unless there is a clear breakout above the previous resistance level at 12,881 points or a breakdown below the earlier support level at 12,254 points, this sideways movement is expected to persist in the near term. Additionally, the 14-day Relative Strength Index (RSI) is currently hovering around its midpoint, which reinforces the previous outlook. As a result, investors may need to wait for a decisive move in either direction before gaining greater clarity on the market’s next trend.  

Our Stance: It could be said that the selling in the IT sector somewhat impacted the broader NZ market on 6th June. In the recent past, the US and China decided to temporarily reduce the tariffs, which supported the broad-based equity markets. While there are still some uncertainties, the investors are required to keep a close watch on trade developments as these can influence the markets. Over the next few trading sessions, the markets might react to macro-economic releases. On 11th June, the US is expected to release data about consumer price index.  

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