S&P/NZX50 Ends in Green

Index Update: On 5th November 2025, S&P/NZX 50 Index witnessed a marginal rise of 0.11% to end at 13,620.980 and S&P/NZX 20 Index ended slightly lower as there was a fall of 0.05% to 7,787.870. On the same day, S&P/NZX 10 Index encountered an increase of 0.06% to 12,986.960. Notably, some buying was witnessed in the healthcare sector, and S&P/NZX All Health Care witnessed a rise of 1.13%.    

Macro Update: As per Stats NZ, NZ’s seasonally adjusted unemployment rate stood at 5.3% in the quarter ended September 2025. During the quarter, the employment rate stood at 66.6% and annual wage inflation was 2.1%. For the last 4 quarters, the unemployment rate has been more than 5%. As measured by the Household Labour Force Survey, there were 160,000 unemployed people in the quarter ended September 2025.   

Market Movers: Among top gainers, PaySauce Limited (NZX: PYS) witnessed an increase of 19.61% to end at $0.305 per share. On the other hand, Uvre Limited (NZX: UVA) fell by 9.62%.   

Commodity Update: The U.S. dollar strengthened on Wednesday amid a tech-led selloff on Wall Street that spread to Asia and divisions within the Federal Reserve, lowering chances of a December rate cut. Gold edged up 0.05% to USD 3,962.20 per ounce, while silver dipped 0.02% to USD 47.28, and copper rose 0.05% to USD 10,661. Brent crude fell 0.56% to USD 64.08 on demand concerns and rising U.S. inventories.  

Source: Trading View, Analysis: Kalkine Group  

Following a brief corrective phase within a well-established broader uptrend marked by a consistent pattern of higher highs and higher lows, the S&P/NZX 50 Index has recently staged a breakout above its 2024 peak at 13,270. This upward breach confirms the continuation of the prevailing bullish structure and signals the potential for renewed upside momentum. Technically, the breakout opens the way for a possible retest of the all-time high at 13,636. Importantly, the former resistance level at 13,270 has now transitioned into a key support zone, which could underpin the next leg of the advance. Moreover, after experiencing a modest pullback, the index is presently rebounding from this newly established support suggests that the broader uptrend remains intact and the overall technical outlook continues positive.  

Our Stance: It could be said that buying in the healthcare sector somewhat helped the broader NZ market on 5th November. As of now, the cautious comments about the broader global equities by the market experts continue to weigh over the sentiments of investors. Apart from this, there is still some uncertainty related to the tariffs, trade policies and the outlook for the rate cuts. Amidst these concerns, the investors are required to be cautious regarding the risky investments.