NZX blue chip stocks off the boil after a poor reporting season

The S&P/NZX 50 Index fell in the morning, traded steadily in the afternoon and then had a late rise in the matching session (on portfolio rebalancing) to close at 12,832.55, up 12.27 points or 0.10%.

The index gained more than 1.3% for the week, 2.6% for the month so far and has increased 8.6% for the year.

There were 78 gainers and 62 decliners on the main board with 38.11 million shares worth $148.8m changing hands.

Shane Solly, portfolio manager with Harbour Asset Management, said the local market has just come off a 32-month high after “a pretty average and tough reporting season".