NZ Market Ends Higher

Index Update: On 24th November 2025, the broader NZ market closed the trading session in green amidst strong buying in the IT stocks. On the same day, S&P/NZX 50 Index witnessed a rise of 0.60% to end at 13,499.850 and S&P/NZX 20 Index rose by 0.69% to 7,723.550. Also, S&P/NZX 10 Index encountered an increase of 0.55% to close at 12,845.340. Notably, S&P/NZX All Information Technology witnessed a buying momentum as the index increased by 9.04%.  

Macro Update: Stats NZ stated that NZ’s total meat exports were valued at $10 Bn in the year to October 2025. Notably, the value of meat exports continues to increase over time. The increase in meat exports in the year to October 2025 was led by higher sheep meat exports, up by $951 Mn, and beef, an increase of $625 Mn. Notably, the USA is the leading beef export market and the EU is the leading market for sheep meat. 

Market Movers: Among top gainers, Gentrack Group Limited (NZX: GTK) witnessed a rise of 18.22% to end at $9.28 per share. On the other hand, Savor Limited (NZX: SVR) declined by 8.00% to $0.23 per share. 

Commodity Update: The dollar remained firm on Monday as traders remained alert to potential yen intervention signals. At the same time, UK gilt markets turned cautious ahead of the British budget in a holiday-shortened week. New Zealand is also expected to cut rates at its upcoming policy meeting. Commodities softened, with gold down 0.86% to USD 4,080.40, silver easing 0.71% to USD 49.56, and copper marginally lower. Brent crude dipped 0.22% to USD 62.42 as Russia-Ukraine peace talks showed progress and a stronger dollar weighed on prices. 

Source: Trading View, Analysis: Kalkine Group 

The S&P/NZX 50 Index gained 86.49 points, equivalent to 0.64% in Monday trading session, marking its third straight day rebounding from the key support zone near the 2024 high—an encouraging sign for the near-term outlook. As long as the index holds above this major support area, the broader uptrend remains intact. Immediate support is at 13,270 points; maintaining levels above this threshold would preserve the bullish structure and raise the likelihood of a renewed move toward the record high at 13,725 points. However, a decisive drop below this support could trigger a pullback toward the 13,000-point region before the longer-term uptrend potentially reasserts itself. 

Our Stance: It could be said that buying in the technology sector somewhat supported the favourable momentum in the broader NZ market on 24th November. As of now, the broader US markets are being supported by the advancements related to the peace talks between the Ukraine and Russia. Apart from this, the hopes of the US Fed cutting the rates continue to support the market sentiments. However, there is still some uncertainty in the global macro environment, which could impact the global and NZ markets.