Image Source : Krish Capital Pty Ltd

Index Update: On 2nd October 2025, the NZ market closed the trading session on a flat note amidst marginal buying in the energy sector. On the same day, S&P/NZX 50 Index witnessed a slight increase of  0.13% to end at 13,451.760 and S&P/NZX 20 Index rose by 0.12% to 7,731.410. Also, S&P/NZX 10 Index encountered an increase of 0.16% to close at 12,889.370. Notably, buying was witnessed in the energy sector and S&P/NZX All Energy rose by 1.88%.    

Macro Update: As per Stats NZ, in August 2025, 3,080 new homes were consented, reflecting a rise of 6.9% from August 2024. This consisted of 1,492 stand-alone houses consented (a rise from 1,422), and 1,588 multi-unit homes consented (an increase from 1,459). Out of the multi-unit homes consented in August month, there were 1,199 townhouses, flats, and units (a rise from 1,137), 256 apartments (an increase from 47), and 133 retirement village units (a decline from 275).  

Top Market Movers: Among top gainers, Bremworth Limited (NZX: BRW) witnessed a rise of 41.94% to end at $0.88 per share. On the other hand, Move Logistics Group Ltd (NZX: MOV) declined by 6.82%.   

Commodity Update: Asian currencies and the dollar were steady Thursday as markets weighed the risk of a U.S. government shutdown, firmer South Korean inflation, and Australia’s weak trade data. Gold slipped 0.25% to $3,887.70, silver fell 0.85% to $47.27, while copper gained 0.34% to $10,416.55. Brent crude rose 0.57% to $65.72 after three sessions of declines, supported by prospects of tighter sanctions on Russian oil despite oversupply concerns.  

A graph of stock market AI-generated content may be incorrect.

Source: Trading View, Analysis: Kalkine Group  

The S&P/NZX 50 Index opened on a positive note, gaining 17.76 points to close at 13,451.75. The index is currently trading above its 21-period SMA, which provides near-term support around the 13,050 level. A decisive break below this zone could accelerate downside momentum toward the 12,800–12,600 range, signaling a potential shift to bearish sentiment in the short term. On the weekly timeframe, however, the index remains above its 50-period SMA, offering a contrasting view. This highlights a relatively stable longer-term outlook, with the broader trend still supported by underlying strength.  

Our Stance: It could be said that buying in the energy sector somewhat supported the broader NZ market on 2 October. Amidst the US government shutdown, the investors remain concerned about the upcoming surprises. Amidst changing economic landscape, partially due to the shutdown as well as uncertainty about trade policies, the investors are required to be cautious. While the shutdown would result in delays in the economic releases, the broader macro picture remains volatile.   

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