Not a good day on the sharemarket amid ongoing concerns about global growth

Analysts downgrading their forecasts for Australian healthcare device maker Resmed also weighed on New Zealand rival Fisher & Paykel Healthcare, one of the country's top 10 stocks.

The benchmark S&P/NZX 50 Index shed 108.14 points, or 1.2 percent, to 9,006.38. Within the index, 10 stocks rose, 33 fell and 7 were unchanged. Turnover was $127.25 million.

“Resmed has had a very poor day and that’s had a big impact on Fisher & Paykel,” said Grant Williamson, a director at Hamilton Hindin Greene.

Resmed shares were down more than 11 percent on Friday and fell more than 12 percent today after a poor December quarter report – the Australian market was closed for the Australia Day holiday yesterday.