NZ market tumbles as latest reporting season ends

Without strong leads from the United States and Australian markets, the S&P/NZX 50 Index was trading without direction for much of the day and reached an intraday high of 11,941.35.

But then the market suddenly dived and closed at 11,878.71, down 56.94 points or 0.48%.

There were 50 gainers and 78 decliners over the whole market on volumes of 36.63 million share transactions worth $146.9m.

There was active trading in Auckland International Airport, down 7c to $8.74, and Chorus, declining 2.5c to $8.335, with $23.42m and $17.5m worth of shares respectively changing hands.