NZ shares flat ahead of Reserve Bank rate decision

With a rebound on Wall Street, the S&P/NZX 50 Index had an early morning rise but soon went downwards until it was pulled back in a late surge.

The index closed flat at 11,909.81, down 2.92 points or 0.02%, after hitting an intraday low of 11,859.93 points and high of 11,926.7.

There were 74 gainers and 50 decliners over the whole market, on volumes of 33.18 million share transactions worth $133.92m.

Matt Goodson, managing director of Salt Funds Management, said “the local market showed real resilience last week but today was the opposite – Aussie was up more than 1% and we were down.