A2's decline cancels property gains on NZX today

The S&P/NZX 50 Index rose 5.19 points, or 0.04 percent, to 11,747.28. Within the index, 28 stocks rose, 20 fell and two were unchanged. Turnover was $257.9 million.

Today’s additional 5 points brings the index’s total gain for the third quarter to 2 percent, rounding out a fairly flat three months with trading stalled in a range between 11,500 and 12,000. The index is now up 1.7 percent year-to-date.

Institutional investors pulled the index back from a half a percent decline during the pre-close session as they repositioned their portfolios for the final quarter of the year.

“It is the last day of the quarter today, so there is always a bit of rejigging of portfolios with investors squaring up positions,” said Mark Lister, head of private wealth research at Craigs Investment Partners.