Index Update: On 14th November 2025, the broader NZ market closed the trading session in red amidst selling in the technology sector. On the same day, S&P/NZX 50 Index witnessed a fall of 0.98% to end at 13,464.460 and S&P/NZX 20 Index declined by 1.02% to 7,710.160. Notably, S&P/NZX 10 Index encountered a fall of 1.07% to end at 12,882.510. S&P/NZX All Information Technology witnessed a decline of 3.43%.    

Macro Update: As per Stats NZ, NZ had a net migration gain of 12,400 during the year ended September 2025, a decline from the net gain of 42,400 in the September 2024 year. There were fewer migrant arrivals and more migrant departures. Notably, there were 138,900 migrant arrivals in the year to September 2025, a decline from 157,300 in the September 2024 year.   

Market Movers: Among top gainers, WasteCo Group Limited (NZX: WCO) witnessed a rise of 20.00% to end at $0.018 per share. On the other hand, Comvita Limited (NZX: CVT) declined by 10.92%.   

Commodity Update: The dollar struggled to recover on Friday, heading for a weekly decline as traders awaited delayed U.S. data expected to reveal a softening economy. Gold inched up 0.30% to USD 4,205.75, while silver dipped 0.09% to USD 53.12. Copper was marginally higher at USD 10,909.40. Brent crude jumped 2.13% to USD 64.35 after a Ukrainian drone strike hit an oil depot in Russia’s Black Sea port of Novorossiysk, lifting supply concerns.  

Source: Trading View, Analysis: Kalkine Group  

Following a short pullback within a firmly established long-term uptrend marked by steady higher highs and higher lows, the S&P/NZX 50 Index has climbed above its 2024 peak at 13,270. This breakout reinforces the prevailing bullish structure and suggests room for further gains. Technically, the move opens the way for a potential retest of the all-time high at 13,636. The former resistance at 13,270 has now shifted into an important support zone, potentially providing a base for the next leg higher. Despite experiencing mild correction, the index continues to register higher highs and higher lows, confirming that the broader uptrend remains intact and the overall technical outlook is still constructive.  

Our Stance: It could be said that significant selling in the technology sector somewhat impacted the broader NZ market on 14th November. As of now, the broader US market is being impacted by the uncertainty related to the US Fed’s move about the interest rates. Also, the investors and traders need to track the economic releases and macro-economic data points which can provide some hint about the health of the US economy. In NZ, the markets are expected to be affected by the global economic environment.  

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