Sharemarket cracks another milestone; Vista, Pushpay recover

The benchmark index rose 54.21 points, or 0.5 percent, to 11,008.13. Within the index, 31 stocks increased, 13 fell, and six were unchanged. Turnover was $140.3 million.

New Zealand's stock market outperformed most other markets after weaker than expected US manufacturing data stoked fears of a recession in the world's biggest economy. The NZX50's relatively high average dividend yield remains a strong drawcard for investors struggling to find reliable income in fixed interest assets. At the same time, a kiwi dollar trading near a four-year low is boosting the outlook for exporters.

"There's no shortage of negative sentiment but the NZX50 is up, bucking the trend," said Mark Lister, head of private wealth research at Craigs Investment Partners.

Software companies Pushpay and Vista led the market higher, both bouncing back from recent sell-offs. Vista rose 6.8 percent to $4.06 on a volume of 2 million shares, well up on its 90-day average of 439,000. Pushpay advanced 5.5 percent to $3.26 with 728,000 shares changing hands, more than its 674,000 average.