Blue-chip shares give up recent gains, Infratil sheds dividend

The S&P/NZX 50 Index decreased 14.07 points, or 0.1 percent, to 10,290.76. Within the index, 32 stocks fell, 16 rose, and two were unchanged. Turnover was $125.8 million.

The local market was one of just four benchmark indices in the red across Asia, with equities generally stronger in the wake of a Federal Reserve policy review keeping the door open for lower interest rates in the US. The NZX hit an all-time high yesterday, with investors attracted to a large number of companies offering reliable dividends at a time when low rates limit investment options.

"Some stocks that performed well yesterday have completed reversed," said Grant Williamson, a director at Hamilton Hindin Greene.

Ebos Group fell 3.4 percent to $22.70 on 104,000 shares, in line with its 90-day average. The healthcare and animal care products maker hit a record $23.70 yesterday. Mainfreight declined 1.3 percent to $39 on a bigger than usual volume of 102,000 shares, having peaked at $40.25 on June 14.