New Zealand Markets Surge Amid Global Sentiment Boost and Sector Gains

Index Update: On 25th March, the broader NZ market encountered significant buying after there was some revival in the investors’ sentiments. On the same day, S&P/NZX 50 Index witnessed a rise of 1.79% to end at 12,929.300 and S&P/NZX 20 Index increased by 1.90% to 7,292.010. Notably, S&P/NZX 10 Index encountered an increase of 2.36% to 12,482.340. Notably, financials sector witnessed buying momentum and S&P/NZX All Financials rose by 3.01%.   

Macro Update: As per FEU dated 12 March, the manufacturing sales volumes decreased by 0.5% in the December quarter, after a 1.2% increase in the September quarter. Alongside this decline in sales, inventories rose by 10.6%, suggesting that production remained steady throughout the quarter. The construction activity declined by 3.1% in the December quarter.   

Market Movers: Among top gainers, WasteCo Group Limited (NZX: WCO) witnessed a rise of 16.67% to end at $0.007 per share. On the other hand, Me Today Limited (NZX: MEE) declined by 7.41%.   

Commodity Update: Currency markets showed early signs of fatigue in Asian trade on Wednesday, as traders remained cautious over U.S. President Donald Trump’s push to end the Iran conflict. While Trump indicated progress in discussions, Iran denied any direct negotiations, keeping uncertainty elevated. Gold surged 4.12% to USD 4,616.20, silver rose 6.07% to USD 73.95, and copper gained 1.53% to USD 12,242.00. Meanwhile, Brent crude declined 6.30% to USD 97.90, slipping below USD 100 amid easing supply concerns.  

Source: Charts by TradingView, Analysis: Kalkine Group   

The S&P/NZX 50 Index rebounded strongly, gaining 227.56 points (1.79%) to close at 12,929.32, reclaiming all points lost in the previous session. This price action formed a Bullish Belt Hold candlestick pattern, suggesting that the near-term outlook remains positive. Moreover, the Relative Strength Index (RSI) is forming a bullish divergence, providing further weight to this observation. However, as the benchmark is currently in a downtrend characterized by lower highs and lower lows, it needs to penetrate the immediate resistance at 13,020.24 (the prior trough) to signal a short-term trend reversal. Until then, the current rebound should be considered a minor rally that might soon give way to a resumption of the prior trend soon.  

Our Stance: In late March 2026, U.S. markets showed mixed performance, with volatility driven by Middle East tensions and rising oil prices, which stoked inflation fears. Investors are navigating a balance of short-term risk and long-term fundamentals, leading to sector rotation and uneven market gains. Coming to the NZ markets, they have been trading cautiously, reflecting a mix of domestic and global influences. Currently, the broader NZ markets are buoyed by improved risk sentiment and supportive central bank cues.