The New Zealand sharemarket fell nearly 2% for the week after having to soak up the $1.3 billion sale of Auckland International Airport shares, with the airport now increasing its influence on the index.

The heavy trading in Auckland International Airport shares captured the attention of the New Zealand sharemarket, while the other stocks had a reasonably quiet day.

The New Zealand sharemarket slumped to one of its biggest single-day falls this year as investors rushed to free up funds and participate in Auckland International Airport’s $1.3 billion sale of stock.

The New Zealand sharemarket lacked any real direction on a quiet day’s trading – unable to cling to any economic and company developments.

The New Zealand sharemarket started the new week on a positive note, and telecommunications network provider Chorus came out firing with a pledge to be more competitive.

Software firm Gentrack has surged more than 30% in three trading days as the New Zealand sharemarket ended the week with a small gain.

Record half-year revenue from heavyweight Fisher and Paykel Healthcare couldn’t stop the New Zealand sharemarket falling more than 1%, while Ryman Healthcare again disappointed investors.

The New Zealand sharemarket greeted the latest interest rate cut – with the promise of more to come – by rising 0.7% to its highest close in more than three years.

The New Zealand sharemarket gave back half of the gains from the day before – when record volumes were traded – but software firm Gentrack surged to a new all-time high.

A solid six-month financial result from Turners Automotive provided the New Zealand sharemarket with more confidence and strength, though Air NZ has downgraded its first-half earnings guidance.

An upbeat a2 Milk, providing an earnings upgrade and a welcome dividend, spurred the New Zealand sharemarket to its highest close in nearly two years.

The New Zealand sharemarket made a small gain as it waited for a pivotal interest rate decision by the Reserve Bank next week.

The New Zealand sharemarket lacked any real direction as it slumped 0.6%, led down by heavyweight Fisher and Paykel Healthcare.

A more confident New Zealand sharemarket reached its highest level in a month, posting its second successive gain of around 0.5%, on widely-held hopes of another big interest rate cut next week.

The New Zealand sharemarket staged a strong turnaround with a rise of more than 0.5%, while the NZ dollar reached a 12-month low.

The New Zealand sharemarket finished a choppy week on a flat note but seafood exporter Sanford rose more than 6% after providing an unexpectedly strong annual result.