Another day of falling prices on the stock exchange
After a down day on Wall Street, the S&P/NZX 50 Index fell sharply at the opening and had a late rise to close at 11,728.01, down 38.97 points or 0.33% after reaching an intraday low of 11,690.78.
There were 51 gainers and 94 decliners on the main board with 28.62 million shares worth $101.22m changing hands.
Matt Goodson, managing director of Salt Funds Management, said the index falling six days in a row sounds bad but is not a catastrophic pullback.
“There have been pretty small moves on light volumes.” The falls have ranged from 0.01% to 0.42%, while between Feb 8 and 15 the moves were bigger, ranging from minus 0.16% to minus 0.88%.
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