NZ Markets Rise as Investors Embrace Improved Global Sentiment

Index Update: New Zealand shares closed higher on 16 June 2026 as investors responded positively to improving global risk sentiment and stronger offshore market cues. Optimism was supported by easing concerns around international geopolitical developments and expectations that major central banks may avoid more aggressive policy tightening in the near term. Broader market confidence improved throughout the session, helping lift the benchmark index despite lingering economic uncertainties. Notably, S&P/NZX 50 Index witnessed a rise of 0.49% to end at 13,426.130.   

Macro Update: Petrol and diesel prices declined between April and May 2026, falling 3.8% and 11.4%, respectively. Air travel costs also eased during the month, with domestic airfares dropping 11.4% and international airfares decreasing 5.5%. In contrast, food prices rose 1.0% over the same period.   

Market Movers: Among top gainers, Delegat Group Limited (NZX: DGL) witnessed a rise of 14.29% to end at $4.16 per share. On the other hand, Blis Technologies Limited (NZX: BLT) declined by 6.25%.   

Commodity Update: The U.S. dollar remained close to its 10-day low on Tuesday as improving risk sentiment followed a preliminary agreement to end the conflict between the United States and Iran. Market participants are also monitoring upcoming central bank meetings in Japan and Australia for inflation and policy cues. Gold declined 0.28% to USD 4,338.70 per ounce, silver fell 0.87% to USD 69.57, and copper eased 0.26% to USD 13,728.00. Brent crude oil rose by USD 0.30 to USD 83.42 per barrel amid continued supply concerns surrounding the Strait of Hormuz. 

Source: Charts by TradingView, Analysis: Kalkine Group  

In the most recent trading session, the S&P/NZX 50 continued its upward momentum from the latest swing low, gaining 65.56 points, or 0.49%, to finish at 13,426.14. Technically, the index has rebounded from a key near-term support level, suggesting that the recent bullish trend remains intact. 

The broader technical picture has also strengthened considerably. The index has decisively broken above the upper boundary of a symmetrical triangle pattern, while the 14-period Relative Strength Index (RSI) has advanced from neutral territory, indicating increasing momentum and improving investor sentiment. With the benchmark now trading comfortably above the former resistance level at 13,324.82, the likelihood of a sustained trend reversal has improved. Should buying pressure persist and positive momentum continue to build, the market may look toward the record high of 13,757.71 as the next significant upside target.  

Our Stance: The US markets were mixed as investors weighed economic data, corporate earnings expectations, and the outlook for interest rates. Investors largely focused on growth prospects and inflation trends, while risk appetite remained selective across sectors. Overall, the market reflected cautious optimism as participants assessed the balance between economic growth and monetary policy. New Zealand markets traded with a mildly positive bias, supported by improved global sentiment and steady investor demand. In the near term, markets are expected to remain range-bound with a mild positive bias. Direction will likely depend on offshore market trends and incoming economic data.