Image Source : Krish Capital Pty Ltd

Index Update: On 2nd September 2025, the NZ market closed in green amidst broad-based buying. On the same day, S&P/NZX 50 Index witnessed a rise of 0.48% to end at 13,133.160 and S&P/NZX 20 Index rose by 0.49% to close at 7,677.600. Also, S&P/NZX 10 Index rose by 0.49%. Notably, strong buying was witnessed in the financials sector and S&P/NZX All Financials rose by 2.46%. However, S&P/NZX All Consumer Staples declined by 1.37%.   

Macro Update: As per Stats NZ, total exports of goods and services for the quarter ended June 2025 amounted to $28.9 Bn, reflecting a rise from $26.3 Bn in the June 2024 quarter. The total imports of goods and services stood at $27.6 billion, up from $26.7 billion witnessed in the June 2024 quarter. The total two-way trade for the June 2025 quarter amounted to $56.4 Bn.   

Top Market Movers: Among top gainers, Metro Performance Glass Limited (NZX: MPG) rose by 18.92% to NZD 0.044 per share. On the same day, My Food Bag Group Limited (NZX: MFB) declined by 8.00% to NZD 0.23 per share.  

Commodity Update: The dollar weakened as traders reacted to President Trump’s escalating attacks on the Federal Reserve, including the dismissal of Governor Lisa Cook, stoking fears of eroded central bank independence. Gold up 0.56% at $3,565.65 and silver surging 2.44% to $41.715, while copper rose 0.36% to $9,927.15. Brent crude gained 0.45% to $68.46, with oil steady as markets balanced OPEC+ output growth against Russia-Ukraine supply risks  

Source: Trading View, Analysis: Kalkine Group  

After beginning a short-term rally in April 2025, the S&P/NZX 50 index has recently revisited its 2024 peak at 13,270. Despite a brief pullback, the index continues to register higher highs and higher lows, signaling that the uptrend is still intact. A decisive break above this resistance would strengthen bullish momentum and potentially pave the way for a test of the all-time high at 13,636. On the downside, immediate support lies at 12,750, with a breach of this level serving as an early warning signal. Meanwhile, the 14-day Relative Strength Index (RSI) is heading north from its midpoint, reflecting positive market sentiment.  

Our Stance: It could be said that the buying in the financials sector somewhat supported the broader NZ market on 2nd September. While there are uncertainties related to the tariffs, the investors are required to be cautious amidst volatile commodity and currency markets. RBNZ stated that the declining government spending as the share of the economy is projected to reduce inflationary pressure over the medium term.  

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