NZ Market Closes Higher

Index Update: On 10th February, the broader NZ market ended higher amidst buying momentum. On the same day, S&P/NZX 50 Index witnessed a rise of 0.50% to end at 13,513.680 and S&P/NZX 10 Index increased by 0.86% to 13,005.420. Also, S&P/NZX 20 Index rose by 0.50% to 7,694.200. Notably, strong buying was encountered in the materials sector and S&P/NZX All Materials rose by 3.90%.     

Macro Update: As per the FEU dated 29 January 2026, the house prices as well as sales activity are pointing to the flat housing market. This is because upward price pressures due to the reduced interest rates are being offset by significant availability of housing stock for sale as well as weak net inward migration. Furthermore, the labour market seems to have stabilised towards 2025 end.   

Market Movers: Among top gainers, Pacific Edge Limited (NZX: PEB) witnessed a rise of 9.76% to end at $0.225 per share. On the other hand, Savor Limited (NZX: SVR) declined by 6.67%.   

Commodity Update: The U.S. dollar extended sharp losses on Tuesday ahead of key economic data expected to influence the interest rate outlook, while the yen held firm after Prime Minister Sanae Takaichi’s decisive election victory. Commodities traded lower, with gold down 0.39% to USD 5,059.25, silver easing 0.73% to USD 81.68, and copper slipping 0.50% to USD 13,146.00. Brent crude declined 0.40% to USD 68.79, though supply concerns lingered amid Strait of Hormuz tensions. 

Source: Trading View, Analysis: Kalkine Group  

The S&P/NZX 50 Index advanced 67.33 points, or 0.5%, to finish at 13,513.69, trading just below the rising trendline that has been in place since April 2025. Despite that the benchmark remains in a consolidation phase, capped by resistance near its all-time high and supported by solid demand around the December 2024 peak, resulting in a broadly neutral near-term outlook. Importantly, the index continues to hold above its prior swing low, suggesting the underlying bullish trend remains intact despite recent volatility. From a technical standpoint, momentum has moderated, yet buying interest continues to emerge around key support levels. Looking ahead, immediate resistance stands at the recent high of 13,757.71; a clear break above this level would reinforce bullish sentiment and open the path toward the psychological 14,000 level. On the downside, initial support is located near 13,250, where sustained stability would help preserve the constructive technical structure and limit the risk of a deeper pullback.  

Our Stance: It seems that after the strong sell-off in the technology stocks, the US markets are gaining momentum. Most of the technology stocks are now witnessing gains, helping the broader market. Coming to the NZ markets, all eyes are on the RBNZ’s decision about the interest rates. The market experts are expecting that RBNZ is expected to remain cautious. Furthermore, the earnings reports are expected to influence the broader market momentum.