NZ Market Ends in Green Amidst Buying in Energy Sector

Index Update: On 15th October 2025, the broader NZ market closed the trading session in green amidst buying in the energy sector. On the same day, S&P/NZX 50 Index witnessed a rise of 0.23% to end at 13,307.400 and S&P/NZX 20 Index increased by 0.13% to 7,615.490. Also, S&P/NZX 10 Index encountered a rise of 0.06% to 12,666.060. Notably, strong buying was witnessed in the energy sector and S&P/NZX All Energy rose by 2.27%.    

Macro Update: As per the fortnightly economic update dated 9 October, the lower interest rates are expected to support an economic recovery as the OCR has been reduced to 2.5%. As per the release, lower interest rates are expected to offer stimulus for an economy which went sideways in H1 FY 2025. Notably, the business surveys for the quarter ended September reiterated the weak demand backdrop that firms have been facing, and consumer confidence is downbeat amidst the weakness in housing market as well as labour market.   

Market Movers: Among top gainers, Being AI Limited (NZX: BAI) witnessed a rise of 8.94% to end at $0.134 per share. On the other hand, Enprise Group Limited (NZX: ENS) fell by 5.71%.    

Commodity Update: The U.S. dollar weakened on Wednesday after Fed Chair Jerome Powell’s comments fueled expectations of an interest rate cut this month. Precious metals gained, with gold up 0.71% to $4,192.45, silver rising 1.07% to $51.15, and copper advancing 0.49% to $10,640.50. Brent crude slipped 0.19% to $62.27, extending losses amid the IEA’s supply surplus warning for 2026 and concerns over U.S.-China trade tensions impacting demand.  

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 buying in the energy sector somewhat helped the broader NZ market on 15th October. As of now, the broader US markets are being supported by the comments from the US Fed amidst the uncertain macro-economic picture. While there are expectations of the further cuts, the investors need to also focus on the earnings season. The movements in global markets are expected to impact the NZ equities as well.