Image Source : Krish Capital Pty Ltd

Index Update: On 21th August 2025, the NZ market ended significantly higher amidst broad-based buying momentum. On the same day, S&P/NZX 50 Index witnessed a rise of 0.94% to end at 13,194.070 and S&P/NZX 20 Index rose by 0.88% to 7,736.910. Notably, S&P/NZX 10 Index increased by 0.90% to 12,917.390. S&P/NZX All Consumer Staples witnessed a strong increase of 2.61% to end at 3,913.140.   

Macro Update: New Zealand’s trade deficit narrowed to NZD 0.578B in July, supported by 10% export growth in dairy, meat, and metals. Imports rose 2.3%, led by machinery and vehicles. The NZD hit a four-month low at $0.582 after the RBNZ cut rates to 3.0%, signaling further easing amid global headwinds.   

Top Market Movers: Among top gainers, RUA Bioscience Limited (NZX: RUA) witnessed a rise of 9.62% to end at $0.0570 per share. On the other hand, TruScreen Group Limited (NZX: TRU) declined by 10.53%.   

Commodity Update: The U.S. dollar eased Thursday as concerns grew over the Federal Reserve’s independence following fresh criticism from President Trump, ahead of Chair Jerome Powell’s upcoming remarks. Gold slipped 0.13% to $3,384.20, while silver rose 0.31% to $37.89 and copper edged down 0.02% to $9,733.15. Brent crude gained 0.50% to $67.20, supported by a sharp decline in U.S. inventories, with markets also tracking the prospects for a Russia-Ukraine peace deal for supply cues.  

Source: Trading View, Analysis: Kalkine Group  

Following a period of consolidation that succeeded the sustained rally beginning in October 2023, the S&P/NZX 50 index has recently moved above its ascending trendline, signaling the potential resumption of its prior upward trajectory. In the short term, a breakout above the recent minor high at 12,983 would likely provide further momentum, positioning the index to retest the 2024 peak at 13,270. A confirmed move through this resistance level would reinforce bullish sentiment and could set the stage for a challenge of the historical high at 13,636. Furthermore, the 14-day Relative Strength Index (RSI) is trending upward from its midpoint, underscoring strengthening investor confidence in the near term.  

Our Stance: The NZ market gained on broad-based buying, led by consumer staples, with S&P/NZX 50 breaking above its trendline. July trade deficit narrowed to NZD 0.578B as exports rose 10%. Rising machinery and vehicle imports, a weak NZD, and bullish RSI indicate potential upside toward 13,270–13,636 amid improving investor confidence. 

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