NZ sharemarket gains nearly 1%, Pushpay bids farewell to NZX
The S&P/NZX 50 Index first fell to an intraday low of 11,861.65 before bouncing back and closing at 11,987.3, up 97.69 points or 0.82%. The index’s industrial sector increased by 1.6% and energy by 2.8%.
There were 75 gainers and 59 decliners over the whole market on increased volume of 67.18 million share transactions worth $229.34m.
The trade was dominated by Pushpay Holdings, 31.69m shares worth $44.75m, as the software firm disappeared from the NZX main board.
Jeremy Sullivan, an investment advisor with Hamilton Hindin Greene, said: “We have had a positive day with the industrials doing the heavy lifting. They were stocks that went down last week and have now come back.”
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