NZ Markert Witnesses Buying Momentum

Index Update: On 12th November 2025, the NZ market ended the trading session in green amidst strong buying in the consumer discretionary sector. On the same day, S&P/NZX 50 Index witnessed a rise of 0.49% to end at 13,671.730 and S&P/NZX 20 Index rose by 0.55% to 7,830.150. Also, S&P/NZX 10 Index encountered a rise of 0.76% to close at 13,101.350. Notably, S&P/NZX All Consumer Discretionary witnessed an increase of 1.53% to end at 743.260.    

Macro Update: As per the FEU dated 6 November 2025, despite the increased trade uncertainty, Asian economies grew at a strong pace in the quarter ended September. This was supported by the strength in tech exports. However, the leading indicators of export activity in October hinted a slowdown in the external demand. Notably, the businesses in the retail and construction sectors were significantly impacted by the current downturn.   

Market Movers: Among top gainers, Cooks Coffee Company Limited (NZX: CCC) witnessed a rise of 9.09% to end at $0.24 per share. On the other hand, Comvita Limited (NZX: CVT) declined by 13.04%.   

Commodity Update: The dollar slipped on Wednesday after weak U.S. private-sector jobs data heightened concerns about labor market health. Investors awaited the expected reopening of the U.S. government, which could trigger a flood of delayed economic reports. Gold rose 0.37% to USD 4,131.40 per ounce, silver gained 0.75% to USD 51.12, and copper inched up 0.02% to USD 10,834.20. Brent crude eased 0.20% to USD 65.04 amid hopes of a shutdown resolution. 

Source: Trading View, Analysis: Kalkine Group  

After a brief corrective phase within a well-defined long-term uptrend characterized by consistent higher highs and higher lows, the S&P/NZX 50 Index has recently broken above its 2024 high at 13,270. This breakout confirms the ongoing bullish trend and indicates potential for further upside momentum. From a technical perspective, the move opens the path toward a possible retest of the all-time high at 13,636. Notably, the previous resistance at 13,270 has now turned into a key support area, which may serve as a foundation for the next advance. Additionally, following a minor pullback, the index is now rebounding from this support level and then surpassed its most recent peak in the last trading session, reinforcing that the broader uptrend remains intact and the overall technical outlook stays positive.  

Our Stance: It could be said that buying in the consumer discretionary sector somewhat supported the broader NZ market on 12 November. While the US government shutdown is expected to end soon, the investors are required to now focus on the developments which might influence the US Fed’s decision on the rate cuts. With respect to NZ, the recent FEU stated that despite the firms expecting easier monetary policy to help country’s economic recovery throughout 2026, there are also expectations of the slower household response to reduced rates as conditions impact financial security of the people of NZ.