NZ Shares End the Day in Positive Territory

Index Update: On 18th March, the broader NZ market closed higher amidst buying in the broader consumer staples sector. On the same day, S&P/NZX 50 Index witnessed a rise of 1.01% to end at 13,315.600 and S&P/NZX 20 Index rose by 0.93% to close at 7,535.670. Also, S&P/NZX 10 Index rose by 0.99% to 12,879.600. Notably, consumer staples sector witnessed strong buying and S&P/NZX All Consumer Staples rose by 1.98%.   

Macro Update: As per Stats NZ, New Zealand’s seasonally adjusted current account deficit increased by $857 million to $4.6 billion in the December 2025 quarter. The increase in the primary income deficit ($664 million) and the goods deficit ($321 million) were the key drivers of the current account deficit. The services balance recorded a $122 million surplus, marking the third surplus since the March 2020 quarter.  

Market Movers: Among top gainers, Tourism Holdings Limited (NZX: THL) witnessed a rise of 6.57% to end at $2.27 per share. On the other hand, Metro Performance Glass Limited (NZX: MPG) declined by 9.52%.   

Commodity Update: The dollar remained under pressure as mild risk appetite returned ahead of key central bank decisions. Precious metals traded lower, with gold at USD 4,993.30 and silver declining sharply, while copper edged slightly down. Brent crude slipped to USD 102.43 after recent gains, following an unexpected rise in U.S. inventories. Market sentiment stayed cautious, as participants awaited the Federal Reserve’s stance amid persistent inflation concerns linked to elevated oil prices.  

Source: Charts by TradingView, Analysis: Kalkine Group  

The S&P/NZX 50 Index advanced by 133.38 points, or 1.01%, to finish at 13,315 in the latest session, continuing its recovery from the lower end of its current trading band. From a technical perspective, price action still reflects a sequence of lower highs and higher lows, indicating the potential development of a symmetrical triangle, a pattern commonly associated with consolidation. Key levels to monitor include the previous high at 13,757.71, which now acts as resistance, and the earlier low at 13,022.30, serving as support and marking the lower boundary of the range. Meanwhile, the Relative Strength Indicator (RSI) has eased back toward its midpoint, suggesting that momentum has cooled to more neutral conditions. Overall, this setup points to a likely continuation of range-bound trading in the near term.  

Our Stance: The U.S. markets are currently influenced by interest rate expectations, inflation data, and Federal Reserve policy signals. The markets are experiencing headline-driven volatility, with periods of both gains and uncertainty. Notably, New Zealand’s market is currently showing moderate volatility with a generally steady tone. Geopolitical developments and international market movements are also affecting investor sentiment. Overall, performance is largely driven by sector-specific company results and global risk factors.