NZ Market Ends in Red Amidst Selling in Healthcare Sector

Index Update: On 6th March, the broader NZ market ended lower amidst selling in the healthcare sector, with S&P/NZX 50 Index witnessing a fall of 0.72% to end at 13,519.350 and S&P/NZX 20 Index declining by 0.70% to 7,654.380. Also, S&P/NZX 10 Index declined by 0.87% to 13,091.300. The healthcare sector witnessed selling pressure, with S&P/NZX All Health Care falling by 1.70% to end at 3,017.670.      

Macro Update: As per Stats NZ, the total exports of goods and services for the December 2025 quarter amounted to $29.2 Bn, reflecting a rise from $27.0 Bn in the quarter ended December 2024. The total imports of goods and services for the December 2025 quarter were $32.0 billion, an increase from $29.4 Bn in the December 2024 quarter. Therefore, the total two-way trade for the December 2025 quarter amounted to $61.2 Bn.  

Market Movers: Among top gainers, Taiko Critical Minerals Limited (NZX: TCM) witnessed a rise of 4.55%. On the other hand, Savor Limited (NZX: SVR) declined by 6.98%  

Commodity Update: The U.S. dollar held broadly steady in early Asian trade on Friday and remained on track for its strongest weekly gain in over a year as rising Middle East tensions lifted demand for safe-haven assets. Gold advanced 1.19% to USD 5,141.55, silver surged 2.74% to USD 84.42, and copper gained 0.58% to USD 13,004.50. Brent crude slipped 1.33% to USD 84.27 as the U.S. granted waivers allowing Indian refiners to continue buying Russian crude to ease supply pressures.  

Source: Charts by TradingView, Analysis: Kalkine Group  

In the latest trading session, the S&P/NZX 50 Index declined modestly by 98.54 points, or 0.72%, finishing at 13,519.36. Despite the pullback, price behaviour continues to support a constructive short-term outlook for the benchmark. Looking ahead, the index is approaching a significant resistance level at 13,375.71, which corresponds to its previous peak and represents the final technical barrier before a move into new highs. A clear and sustained breakout above this level could open the door to additional upside. On the other hand, failure to breach this resistance may trigger a phase of consolidation, with prices likely fluctuating between recent highs and nearby support zones. Meanwhile, the Relative Strength Index (RSI) has moved back into neutral territory, suggesting that momentum has cooled and the market currently lacks strong directional conviction.  

Our Stance: As of now, the US markets are reacting to interest-rate expectations from the Federal Reserve, geopolitical tensions pushing oil prices higher, and uncertainty around tariffs and trade policy, all of which are contributing to near-term volatility. Coming to the NZ markets, the S&P/NZX 50 has recently shown mixed performance as global geopolitical tensions — especially the ongoing Middle East conflict — weigh on risk sentiment and push markets lower, while easing fears have also triggered rallies.