NZ Market Witnesses Buying Momentum

Index Update: On 5th March, the broader NZ market witnessed positive momentum amidst buying in the consumer staples sector. On the same day, S&P/NZX 50 Index witnessed a rise of 0.64% to end at 13,617.890 and S&P/NZX 20 Index increased by 0.34% to 7,708.720. Also, S&P/NZX 10 Index encountered an increase of 0.40%. Also, S&P/NZX All Consumer Staples increased by 2.74%.     

Macro Update: As per Stats NZ, in the December 2025 quarter, the seasonally adjusted total building volume witnessed a fall of 3.1% as compared to the September 2025 quarter, with residential falling 1.1%, and non-residential declining 6.5%. The total building value amounted to $7.7 Bn, down by 3.6% from the December 2024 quarter.  

Market Movers: Among top gainers, Taiko Critical Minerals Limited (NZX: TCM) witnessed a rise of  

100.00% to $0.22 per share. On the other hand, Move Logistics Group Ltd (NZX: MOV) declined by 14.29% to $0.21 per share.  

Commodity Update: The U.S. dollar paused its sharp rally on Thursday, offering brief relief to the struggling euro as investors hoped the Middle East conflict may not drag on as long as feared. Safe-haven demand lifted precious metals, with gold rising 1.33% to USD 5,203.70 and silver jumping 2.92% to USD 85.61, while copper gained 0.69% to USD 13,147. Meanwhile, Brent crude climbed 2.05% to USD 83.07 amid concerns over the prolonged closure of the Strait of Hormuz disrupting global oil flows.  

Analysis: Kalkine Group  

The S&P/NZX 50 Index extended its short-term upward momentum, gaining 86.77 points (+0.64%) to close at 13,617.90, reflecting steady buying interest and improving investor sentiment. The move signals constructive price action as market participants gradually return to risk assets. From a technical perspective, the index appears to be in a recovery phase, although the broader outlook still requires confirmation through sustained strength above key levels. A decisive break below the nearby support zone could trigger renewed downside pressure, with the next meaningful support likely to emerge near the previous trough around 13,450. On the upside, resistance may develop near the 13,750 region, which could limit further gains in the near term. Meanwhile, the 14-period RSI remains in bullish territory, indicating stable momentum and supporting the prevailing positive bias.  

Our Stance: As of now, the US equities are being influenced by a mix of macroeconomic and policy-related factors. In addition, geopolitical tensions, global economic conditions, and developments in sectors such as technology and artificial intelligence are contributing to market volatility and shaping investment trends. Coming to the NZ markets, the monetary policy decisions by the Reserve Bank of New Zealand and changes in borrowing costs are shaping investor sentiment and equity valuations. In addition, global factors such as commodity demand, currency movements, and international economic conditions continue to impact export-oriented New Zealand companies and overall market performance.