NZ Market Closes in Red

Index Update: On 14th October 2025, the broader NZ market ended the session in red amidst selling in the real estate sector. On the same day, S&P/NZX 50 Index witnessed a decline of 0.56% to end at 13,276.990 and S&P/NZX 20 Index fell by 0.48% to 7,605.420. Also, S&P/NZX 10 Index witnessed a fall of 0.01% to 12,658.600. Notably, significant sell-off was witnessed in the real estate sector and S&P/NZX Real Estate Select Index declined by 3.59%.    

Macro Update: Stats NZ released data about electronic card transactions (September 2025). In September 2025, the spending in the retail industries fell 0.5% ($34 million) and spending in the core retail industries fell 0.4% ($25 million) as compared to August 2025. By the retail spending category, consumables were down by $15 Mn (or 0.5%), durables fell by $14 Mn (or 0.8%), etc.   

Market Movers: Among top gainers, Scott Technology Limited (NZX: SCT) witnessed a rise of 14.40% to $2.78 per share. On the other hand, Metro Performance Glass Limited (NZX: MPG) fell by 6.25% to $0.045 per share.  

Commodity Update: The dollar remained steady on Tuesday as U.S. President Donald Trump’s softer stance on China tariffs and the prospect of a meeting with his Chinese counterpart lifted hopes of easing trade tensions. Gold rose 0.73% to $4,163.30, silver advanced 2.08% to $51.48, while copper slipped 0.58% to $10,757.40. Brent crude gained 0.28% to $63.50, supported by improved sentiment over potential U.S.-China trade de-escalation.  

Source: Trading View, Analysis: Kalkine Group  

Following a brief corrective phase within a well-established broader uptrend marked by a consistent pattern of higher highs and higher lows, the S&P/NZX 50 Index has recently staged a breakout above its 2024 peak at 13,270. This upward breach confirms the continuation of the prevailing bullish structure and signals the potential for renewed upside momentum. Technically, the breakout opens the way for a possible retest of the all-time high at 13,636. Importantly, the former resistance level at 13,270 has now transitioned into a key support zone, which could underpin the next leg of the advance. While the index is presently experiencing a modest pullback, its ability to hold above this newly established support suggests that the broader uptrend remains intact and the overall technical outlook continues positive.  

Our Stance: It could be said that significant selling in the real estate sector impacted the NZ market on 14th October. While the US markets witnessed a broad-based recovery on October 13, the investors are expected to now turn their focus on the earnings season. Amidst these trends, movements in precious metals need to be tracked. Also, the market players are required to keep a close watch on the events which can impact the interest rates.