NZ shares flat as tech rally balances covid fears

The S&P/NZX 50 Index rose 8.91 points, or 0.1 percent, to 11,500.82. Within the index, 21 rose, and eight were unchanged. Turnover was $211.3 million.

Cinema software developer Vista Group International led the market higher, up 4.3 percent at $1.21 as it bounced back from yesterday's drop after covid restrictions were re-imposed on Auckland where community transmission of the coronavirus has broken out. Pushpay Holdings rose 2.1 percent to $8.14.

“There was the strong lead from offshore and a bit of stabilisation as the market gets it head around what lockdown means for New Zealand stocks that were sold off heavily yesterday,” said Brad Gordon, an investment adviser at Hobson Wealth Partners.

Gordon said investor sentiment had also been lifted by positive earnings results.