NZ sharemarket shows positive signs after last week's lows

The S&P/NZX 50 Index reached an intraday high of 11,713.34 but slipped slightly to close at 11,684.95, up 18.88 points or 0.16% – following five successive down days last week.

There were 74 gainers and 62 decliners over the whole market on volumes of 17.95 million shares worth $63.29 million.

Jeremy Sullivan, investment advisor with Hamilton Hindin Greene, said the local market made a modest gain following buoyant trading offshore, led by the technology stocks.

At the weekend, the S&P 500 in the United States hit an all-time high after rising 1.23% to 4839.81 points, beating the previous record of 4796.56 set on Jan 3, 2022.