Index Update: On 9th October 2025, the broader NZ market witnessed marginal rise amidst buying in the materials sector. On the same day, S&P/NZX 50 Index witnessed an increase of 0.02% to end at 13,570.860 and S&P/NZX 20 Index rose by 0.03%. Also, S&P/NZX 10 Index encountered a rise of 0.20% to 12,914.610. Notably, S&P/NZX All Materials increased by 0.97%.   

Macro Update: As per Stats NZ, the NZ household saving rose from $149 Mn in the March 2025 quarter to $804 Mn in the June 2025 quarter, with household net disposable income rising more than the increase in household spending. Notably, the critical drivers of the rise in disposable income this quarter were higher dividends received by households and self-employed business owners.  

Top Market Movers: Among top gainers, Cooks Coffee Company Limited (NZX: CCC) witnessed a rise of 12.50% to end at $0.27 per share. On the other hand, Blis Technologies Limited (NZX: BLT) declined by 6.25%.  

Commodity Update: The dollar held firm on Thursday, heading for its best weekly performance in nearly a year, supported by a weakening yen following Japan’s political transition. Gold slipped 0.69% to $4,041.45, while silver fell 1.54% to $48.20. Copper gained 0.88% to $10,779.70. Brent crude declined 0.60% to $65.86 as U.S. President Donald Trump announced the first phase of an Israel-Hamas ceasefire, alongside rising U.S. crude inventories. 

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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. Additionally, 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 a positive market sentiment. 

Our Stance: As of now, the market experts are eagerly waiting for the remarks of the US Fed’s Jerome Powell. Amidst global uncertainties, the focus remains on the course of rate cuts in 2025. RBNZ, in the release dated 8th October, stated that the annual CPI inflation is within the Committee’s 1% - 3% target band. The inflation is presently near the top of the band, and the spare capacity remains consistent with headline inflation returning towards the target mid-point in H1 FY 2026.  

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