New Zealand Market Ends Higher

Index Update: On 7th April, the NZ market ended higher amidst strong buying in the broad-based buying, with S&P/NZX 50 Index rising by 1.30% to end at 13,069.660. On the same day, S&P/NZX 20 Index and S&P/NZX 10 Index rose by 1.16% and 1.53%, respectively. Also, S&P/NZX All Health Care encountered a rise of 2.92% to end at 2,879.650.   

Macro Update: As per Stats NZ, as of 31 March 2026, the estimated number of private dwellings is 2,117,500, while the number of households is estimated at 2,064,700. In February 2026, the seasonally adjusted number of new dwellings consented increased by 2.7 percent, following a 2.0 percent rise in January 2026.   

Market Movers: Among top gainers, Blis Technologies Limited (NZX: BLT) rose  by 13.33% to NZD 0.017 per share, KMD Brands Limited (NZX: KMD) declined by 14.77% to NZD 0.075 per share.  

Commodity Update: On Tuesday, the U.S. dollar strengthened against major currencies after Iran rejected a ceasefire proposal and President Donald Trump intensified threats toward Tehran. Investor sentiment remained cautious amid fears of a wider Middle East conflict and an approaching diplomatic deadline. Gold slipped 0.26% to USD 4,672.05 per ounce, silver declined 0.27% to USD 72.61, while copper rose 0.68% to USD 12,422.00. Brent crude also gained 0.40% to USD 110.00.  

Source: Charts by TradingView, Analysis: Kalkine Group   

In the latest session, the S&P/NZX 50 Index continued its rebound from the recent trough, advancing 167.51 points, or 1.30%, to close at 13,069.67. Technically, the index finished near its prior peak, suggesting the emergence of a short-term consolidation phase marked by similar highs and lows. In addition, the 14-period RSI is moving toward its midpoint, indicating neutral momentum and reinforcing the consolidation view. That said, the broader near-term structure remains bearish. The index is still forming a sequence of lower highs and lower lows following its record peak, underscoring the ongoing downtrend. A decisive break above the key resistance at 13,339.06, defined by the mid-March high, would be required to invalidate and potentially reverse this negative outlook.  

Our Stance: The U.S. market in 2026 shows resilient equity gains amid inflationary pressures and geopolitical uncertainty. Labor growth has slowed due to demographic shifts, while consumer spending adapts to persistent cost pressures. Investors focus on technology, diversification, and risk management to navigate volatility. On the other hand, the NZ economy is gradually recovering with modest GDP growth, steady employment gains and inflation easing, while housing values remain subdued with slow price growth and mixed regional demand. Consumer confidence and investment activity are cautiously improving, though cost pressures and global uncertainties continue to shape market sentiment.