NZ Market Ends Flat

Index Update: On 11th February, the broader NZ market closed the trading session on a flat note, with S&P/NZX 20 Index witnessing a marginal decline of 0.01% to end at 7,693.070. On the same day, S&P/NZX 50 Index witnessed a decline of 0.05% to close at 13,507.280 and S&P/NZX 10 Index fell by 0.26%. Notably, healthcare sector witnessed selling pressure, with S&P/NZX All Health Care declining by 1.56%.     

Macro Update: As per the weekly global economic roundup (10 February 2026) released by MFAT, the NZ and Australia signed a new trans-Tasman standards agreement, which would help the local businesses to operate throughout both the markets by reducing costs, aligning regulatory requirements as well as improving the product quality and safety. Also, NZ and Germany have reaffirmed their close strategic partnership.   

Market Movers: Among top gainers, TruScreen Group Limited (NZX: TRU) witnessed a rise of 11.11%. On the other hand, Bremworth Limited (NZX: BRW) declined by 4.86%.   

Commodity Update: The Japanese yen retained firm gains, supported by a rally in domestic equities and expectations that Prime Minister Sanae Takaichi’s decisive election win may reinforce fiscal discipline. The U.S. dollar traded cautiously ahead of the non-farm payrolls report after softer economic indicators. Gold rose 0.91% to USD 5,076.70, silver gained 2.16% to USD 82.11, copper edged up 0.10%, and Brent crude advanced 0.60% to USD 69.18.  

Source: Trading View, Analysis: Kalkine Group  

After declining sharply in early trade, the S&P/NZX 50 Index staged a late-session rebound, recovering nearly all of its intraday losses to settle at 13,516.52, down just 6.42 points, or 0.05%. The session produced a Hammer candlestick formation, reflecting resilient buying interest at lower levels. Despite this recovery, the benchmark continues to oscillate within a consolidation range, constrained by resistance near its record high while underpinned by firm demand around the December 2024 peak. As such, the near-term bias remains broadly neutral. Notably, the index is still holding above its previous swing low, indicating that the primary bullish structure remains intact despite recent volatility. From a technical perspective, momentum indicators have eased, but dip-buying activity persists around key support zones. In the near term, immediate resistance is located at the recent high of 13,757.71. A decisive breakout above this level would strengthen bullish conviction and pave the way toward the psychological 14,000 threshold. On the downside, initial support is seen near 13,250; sustained price stability above this level would help maintain the constructive technical setup and mitigate the risk of a more pronounced correction.  

Our Stance: As of now, it seems that the investors are eyeing US jobs report (January), which can help them assess the labor market’s strength. Furthermore, another critical economic data, Consumer price index (January), is due on February 13, which could impact the global markets. Coming to the NZ markets, investors are required to be cautious as several economic datapoints remain on the list. NZ equities are likely to respond to the global figures.