NZ market makes small gain despite Synlait taking hit

The S&P/NZX 50 Index rebounded in the afternoon and closed at 11,612.86, up 32.04 points or 0.28% after reaching a morning low of 11,564.55.

There were 65 gainers and 68 decliners on the main board and trading was light with 27.62 million shares worth $88.57 million changing hands.

The market was spirited along by renewed buying in the property stocks, with the All Real Estate sector easily topping the NZX index with a 2.96% rise.

Matt Goodson, managing director of Salt Funds Management, said United States property stocks were very strong at the weekend after being weak for weeks and NZ may have had a copycat reaction.