NZ sharemarket edges up on end of month trading

The S&P/NZX 50 Index dipped, rose and then dipped again in a trading day characterised by a lack of discernible character. It closed at 12,405.27, up 14.22 points or 0.11%, after reaching an intraday high of 12,441.5.

There were 65 gainers and 71 decliners over the whole market on volumes of 43 million share transactions worth $162.1m.

Trading volumes rocketed at the end of the day to wrap up the month as traders sorted through their month-end rebalances and adjustments.

Before that, Blair Knight, the head of sales trading at Craigs Investment Partners, said it had been a slow news day and that trading had been “depressed” before the market closed.