Source: Krish Capital Pty Ltd

Index Update: On 19th September 2025, the NZ market ended the trading session higher amidst broad-based buying. On the same day, S&P/NZX 50 Index witnessed a rise of 0.85% to end at 13,231.660 and S&P/NZX 20 Index rose by 1.02% to close at 7,628.080. Also, S&P/NZX 10 Index encountered an increase of 1.41% to 12,785.200. Notably, significant buying was witnessed in the healthcare sector and S&P/NZX All Health Care rose by 2.31%.    

Macro Update: As per Stats NZ, in August 2025, the goods exports increased by $1.1 Bn (or 23%) to $5.9 Bn and goods imports declined $30 Mn (or 0.4%) to $7.1 Bn. As a result, the monthly trade balance was a deficit of $1.2 Bn. The fruit exports increased $330 Mn (or 57%) to $905 Mn. This was led by kiwifruit, up by $301 Mn (or 64%) to $772 Mn.   

Top Market Movers: Among top gainers, WasteCo Group Limited (NZX: WCO) witnessed a rise of 6.25% to end at $0.017 per share. On the other hand, TruScreen Group Limited (NZX: TRU) increased by 5.88%.  

Commodity Update: The U.S. dollar steadied in early Asian trade Friday, edging up against the yen ahead of the Bank of Japan’s policy decision, as markets sought fresh direction after the Federal Reserve’s rate cut. Gold rose 0.11% to $3,682.30, silver gained 0.65% to $42.38, and copper advanced 0.33% to $9,982.30. Brent crude slipped 0.12% to $67.36, pressured by concerns over U.S. fuel demand. 

A screenshot of a graph AI-generated content may be incorrect.

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: It could be said that the buying in the healthcare sector somewhat supported the broader NZ market on 19th September. It seems that, this week, the investors were focused on the US Fed’s decision about the rate cut. Moving forward, the markets are expected to be influenced by the US-China trade talks. Recently, RBNZ stated that the declining government spending as the share of the economy could reduce the inflationary pressure over the medium term.   

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