NZX 50 loses a week's gain in one day

The S&P/NZX 50 Index fell sharply at the opening and stayed low, closing down 67.38 points or 0.56% to 11,912.73 after increasing 0.52% last week while offshore markets fell.

There were 52 gainers and 72 decliners on the main board, with 31.79 million shares worth $96.77m changing hands.

Mark Lister, investment director with Craigs Investment Partners, said NZ bucked the trend last week with offshore markets down quite sharply.

“There is a bit of nervousness with a lot of talk around the world of more interest rate rises. The latest United States consumer price index (released Thursday morning NZ time) is a crucial piece of economic data for people to figure out how much the Federal Reserve will raise its rate later this month.